XTX Topco Ltd Invests $2.14 Million in CVS Health Corporation (NYSE:CVS)

Key Points

• XTX Topco Ltd has made a new investment in CVS Health Corporation, acquiring 31,516 shares valued at approximately $2.1 million during the first quarter.
• Multiple hedge funds, including Capital World Investors and Dodge & Cox, have significantly increased their stakes in CVS Health, with institutional investors currently owning 80.66% of the stock.
• CVS Health recently reported a strong quarterly earnings performance, with an EPS of $2.25, surpassing analysts' expectations and reflecting a 7.0% year-over-year revenue growth.

XTX Topco Ltd bought a new stake in CVS Health Corporation (NYSE:CVS - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 31,516 shares of the pharmacy operator's stock, valued at approximately $2,135,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Dodge & Cox raised its stake in CVS Health by 11.2% in the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock valued at $3,147,054,000 after purchasing an additional 7,075,209 shares in the last quarter. Capital World Investors grew its position in CVS Health by 26.6% during the fourth quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock valued at $2,739,927,000 after acquiring an additional 12,819,148 shares during the last quarter. Geode Capital Management LLC grew its position in CVS Health by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock valued at $1,211,582,000 after acquiring an additional 689,867 shares during the last quarter. Capital International Investors grew its position in CVS Health by 4.8% during the fourth quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock valued at $1,196,989,000 after acquiring an additional 1,212,126 shares during the last quarter. Finally, Invesco Ltd. grew its position in CVS Health by 30.1% during the fourth quarter. Invesco Ltd. now owns 18,038,089 shares of the pharmacy operator's stock valued at $809,730,000 after acquiring an additional 4,173,243 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Up 0.7%

NYSE:CVS traded up $0.42 during trading hours on Friday, hitting $62.52. The company had a trading volume of 11,376,286 shares, compared to its average volume of 8,510,677. The company has a market capitalization of $79.09 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 0.89 and a beta of 0.57. The stock has a 50-day moving average price of $64.56 and a 200 day moving average price of $63.85. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.63.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating 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 for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.83 earnings per share. On average, equities research analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.3%. CVS Health's dividend payout ratio (DPR) is currently 74.30%.

Analyst Ratings Changes

A number of research analysts have commented on CVS shares. UBS Group reduced their price target on shares of CVS Health from $71.00 to $67.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 22nd. Bernstein Bank reduced their price target on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 16th. Robert W. Baird increased their price target on shares of CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Mizuho increased their price target on shares of CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $84.00 target price (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $75.11.

Insider Buying and Selling

In other news, Director Guy P. Sansone acquired 1,570 shares of the stock in a transaction on Thursday, June 5th. The stock was acquired at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the transaction, the director owned 12,007 shares of the company's stock, valued at $764,845.90. This represents a 15.04% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.22% of the company's stock.

CVS Health Company 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.