Livforsakringsbolaget Skandia Omsesidigt Has $3.43 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of CVS Health Co. (NYSE:CVS) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,503 shares of the pharmacy operator’s stock after purchasing an additional 1,150 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in CVS Health were worth $3,434,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in CVS Health by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 117,162,626 shares of the pharmacy operator’s stock worth $8,180,295,000 after acquiring an additional 485,744 shares during the last quarter. Morgan Stanley grew its holdings in CVS Health by 10.9% during the 4th quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator’s stock worth $3,128,984,000 after acquiring an additional 3,311,928 shares during the last quarter. FMR LLC grew its holdings in CVS Health by 29.1% during the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after acquiring an additional 6,194,441 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in CVS Health by 103,371.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 15,547,559 shares of the pharmacy operator’s stock worth $1,448,877,000 after acquiring an additional 15,532,533 shares during the last quarter. Finally, Norges Bank bought a new stake in CVS Health during the 4th quarter worth approximately $1,425,416,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CVS has been the topic of a number of research reports. Wells Fargo & Company reduced their target price on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, April 8th. Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. HSBC assumed coverage on shares of CVS Health in a research note on Friday, December 22nd. They issued a “buy” rating and a $94.00 price objective on the stock. SVB Leerink assumed coverage on shares of CVS Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $88.00 price objective on the stock. Finally, Royal Bank of Canada reduced their price objective on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $89.44.

CVS Health Stock Down 0.7 %

CVS traded down $0.45 during trading on Wednesday, hitting $68.58. 8,098,555 shares of the company’s stock were exchanged, compared to its average volume of 10,906,099. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.77. The business’s 50 day moving average is $75.68 and its two-hundred day moving average is $73.77. CVS Health Co. has a fifty-two week low of $64.41 and a fifty-two week high of $83.25. The stock has a market cap of $86.44 billion, a P/E ratio of 10.69, a PEG ratio of 0.91 and a beta of 0.52.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The firm had revenue of $93.81 billion for the quarter, compared to the consensus estimate of $90.58 billion. During the same quarter in the prior year, the company posted $1.99 earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. As a group, equities analysts expect that CVS Health Co. will post 8.32 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be issued a dividend of $0.665 per share. The ex-dividend date is Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 3.88%. CVS Health’s payout ratio is 41.18%.

Insiders Place Their Bets

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.24% of the company’s stock.

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.