CVS Health Corporation $CVS Position Increased by Swedbank AB

Key Points

• Swedbank AB increased its stake in CVS Health Corporation by 57.9%, acquiring 822,648 shares in the second quarter, bringing its total ownership to approximately $154.7 million.
• CVS Health recently announced a quarterly dividend of $0.665 per share to be paid on November 3rd, 2023, yielding an annualized 3.6%.
• Analysts have shown confidence in CVS Health's prospects, with several raising their target prices, and the stock currently holds a consensus rating of "Moderate Buy" at a target price of $77.89.

Swedbank AB lifted its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 57.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,242,914 shares of the pharmacy operator's stock after purchasing an additional 822,648 shares during the quarter. Swedbank AB owned about 0.18% of CVS Health worth $154,716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Secure Asset Management LLC acquired a new stake in CVS Health in the 2nd quarter valued at approximately $204,000. Baader Bank Aktiengesellschaft increased its position in CVS Health by 62.8% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 6,253 shares of the pharmacy operator's stock valued at $430,000 after acquiring an additional 2,411 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in CVS Health by 1.0% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 169,127 shares of the pharmacy operator's stock valued at $11,666,000 after acquiring an additional 1,739 shares during the period. Signal Advisors Wealth LLC acquired a new stake in CVS Health in the 2nd quarter valued at approximately $227,000. Finally, Focus Financial Network Inc. increased its position in CVS Health by 3.2% in the 2nd quarter. Focus Financial Network Inc. now owns 11,438 shares of the pharmacy operator's stock valued at $789,000 after acquiring an additional 357 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CVS. Jefferies Financial Group lifted their price target on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Zacks Research cut CVS Health from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $71.00 to $82.00 in a research report on Thursday, August 14th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $78.00 price target on shares of CVS Health in a research report on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and an average price target of $78.25.

CVS Health Price Performance

Shares of CVS traded up $0.36 during trading hours on Monday, hitting $75.28. 7,226,341 shares of the company were exchanged, compared to its average volume of 7,002,839. The company has a market capitalization of $95.48 billion, a PE ratio of 21.03, a PEG ratio of 0.83 and a beta of 0.62. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The firm has a fifty day simple moving average of $68.13 and a 200-day simple moving average of $66.70. CVS Health Corporation has a one year low of $43.56 and a one year high of $76.24.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.35. The business had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The company's revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, sell-side analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health's dividend payout ratio (DPR) is 74.30%.

Insider Activity at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the sale, the director owned 22,156 shares of the company's stock, valued at $1,573,519.12. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.22% of the stock is currently owned by company insiders.

CVS Health Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.