Nomura Asset Management Co. Ltd. increased its stake in shares of CVS Health Co. (NYSE:CVS – Free Report) by 1.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,425,149 shares of the pharmacy operator’s stock after buying an additional 23,378 shares during the period. Nomura Asset Management Co. Ltd. owned 0.11% of CVS Health worth $112,530,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of CVS. Atticus Wealth Management LLC boosted its holdings in shares of CVS Health by 149.0% during the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after buying an additional 219 shares during the period. USA Financial Formulas lifted its position in CVS Health by 573.2% during the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 321 shares during the period. Cornerstone Planning Group LLC lifted its position in CVS Health by 111.5% during the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 243 shares during the period. ZRC Wealth Management LLC lifted its position in CVS Health by 400.0% during the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after purchasing an additional 400 shares during the period. Finally, Coston McIsaac & Partners lifted its position in CVS Health by 42.6% during the fourth quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after purchasing an additional 161 shares during the period. Institutional investors own 80.66% of the company’s stock.
CVS Health Stock Down 0.2 %
CVS traded down $0.11 during midday trading on Friday, reaching $55.54. 11,719,996 shares of the company were exchanged, compared to its average volume of 12,009,832. The company has a market cap of $69.72 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 0.55 and a beta of 0.56. The company’s fifty day moving average price is $67.57 and its 200 day moving average price is $72.02. CVS Health Co. has a one year low of $53.70 and a one year high of $83.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81.
CVS Health (NYSE:CVS – Get Free Report) last announced its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The business had revenue of $88.44 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the previous year, the firm earned $2.20 EPS. CVS Health’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, analysts expect that CVS Health Co. will post 7.02 EPS for the current year.
CVS Health Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were paid a $0.665 dividend. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 annualized dividend and a yield of 4.79%. CVS Health’s payout ratio is 46.75%.
Insider Activity at CVS Health
In other CVS Health news, Director Edward J. Ludwig bought 1,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were acquired at an average price of $53.88 per share, with a total value of $53,880.00. Following the acquisition, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.24% of the stock is owned by company insiders.
Analysts Set New Price Targets
CVS has been the subject of several recent analyst reports. Bank of America cut their price objective on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. StockNews.com cut shares of CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. UBS Group downgraded CVS Health from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $85.00 to $60.00 in a research note on Thursday, May 2nd. Truist Financial reissued a “buy” rating and set a $66.00 target price (down previously from $90.00) on shares of CVS Health in a research report on Thursday, May 2nd. Finally, SVB Leerink reissued a “market perform” rating and set a $60.00 target price (down previously from $87.00) on shares of CVS Health in a research report on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.75.
Read Our Latest Research Report on CVS Health
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.
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