538,403 Shares in CVS Health Co. (NYSE:CVS) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in CVS Health Co. (NYSE:CVS) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 538,403 shares of the pharmacy operator’s stock, valued at approximately $24,169,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of CVS. TD Private Client Wealth LLC grew its holdings in CVS Health by 28.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock worth $2,951,000 after acquiring an additional 10,465 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of CVS Health by 4.8% during the third quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock valued at $90,200,000 after purchasing an additional 66,244 shares during the last quarter. Sompo Asset Management Co. Ltd. increased its holdings in shares of CVS Health by 8.4% in the third quarter. Sompo Asset Management Co. Ltd. now owns 134,523 shares of the pharmacy operator’s stock valued at $8,459,000 after purchasing an additional 10,453 shares in the last quarter. Hall Laurie J Trustee raised its position in CVS Health by 25,484.4% in the 4th quarter. Hall Laurie J Trustee now owns 11,513 shares of the pharmacy operator’s stock worth $517,000 after purchasing an additional 11,468 shares during the last quarter. Finally, B&D White Capital Company LLC acquired a new position in CVS Health during the 4th quarter worth $417,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Buying and Selling

In other news, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael F. Mahoney acquired 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the acquisition, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVS. Wolfe Research boosted their target price on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Argus set a $77.00 price objective on CVS Health in a report on Tuesday, February 18th. StockNews.com raised shares of CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. boosted their price target on shares of CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Finally, Piper Sandler increased their price objective on shares of CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.39.

CVS Health Stock Performance

CVS stock opened at $67.22 on Friday. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $80.75. The business’s 50-day moving average price is $60.60 and its two-hundred day moving average price is $57.35. The firm has a market cap of $84.75 billion, a PE ratio of 18.37, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. As a group, research analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.96%. CVS Health’s payout ratio is 72.68%.

About CVS Health

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.