Saxon Interests Inc. Makes New $323,000 Investment in CVS Health Co. (NYSE:CVS)

Saxon Interests Inc. acquired a new stake in shares of CVS Health Co. (NYSE:CVS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,087 shares of the pharmacy operator’s stock, valued at approximately $323,000.

Several other large investors have also made changes to their positions in CVS. Moneta Group Investment Advisors LLC raised its holdings in shares of CVS Health by 103,371.0% in 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 purchasing an additional 15,532,533 shares during the period. Norges Bank acquired a new position in CVS Health during the fourth quarter valued at approximately $1,425,416,000. FMR LLC increased its position in shares of CVS Health by 29.1% in the third 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 in the last quarter. Morgan Stanley raised its stake in shares of CVS Health by 10.9% in the 4th quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator’s stock valued at $3,128,984,000 after acquiring an additional 3,311,928 shares during the period. Finally, Barclays PLC lifted its holdings in shares of CVS Health by 97.8% during the 2nd quarter. Barclays PLC now owns 5,483,154 shares of the pharmacy operator’s stock valued at $379,052,000 after acquiring an additional 2,711,102 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Performance

Shares of CVS stock traded up $0.33 on Thursday, hitting $79.76. 8,872,358 shares of the stock traded hands, compared to its average volume of 11,297,311. The company’s fifty day moving average is $75.66 and its 200 day moving average is $73.46. CVS Health Co. has a 1-year low of $64.41 and a 1-year high of $83.25. The company has a market capitalization of $100.37 billion, a PE ratio of 12.37, a PEG ratio of 1.05 and a beta of 0.51. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.86 and a quick ratio of 0.63.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $93.81 billion for the quarter, compared to analysts’ expectations of $90.58 billion. During the same period in the prior year, the company earned $1.99 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts predict that CVS Health Co. will post 8.33 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 22nd will be given a dividend of $0.665 per share. The ex-dividend date is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a yield of 3.34%. CVS Health’s dividend payout ratio is currently 41.18%.

Analyst Ratings Changes

Several research firms have commented on CVS. Barclays began coverage on CVS Health in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 price objective on the stock. HSBC assumed coverage on CVS Health in a report on Friday, December 22nd. They issued a “buy” rating and a $94.00 price target for the company. TD Cowen dropped their price objective on shares of CVS Health from $102.00 to $99.00 and set an “outperform” rating on the stock in a research note on Monday, December 11th. Royal Bank of Canada decreased their target price on shares of CVS Health from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.21.

Insider Buying and Selling

In related news, EVP Prem S. Shah sold 29,473 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the sale, the executive vice president now directly owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by company insiders.

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.