Sompo Japan Nipponkoa Asset Management CO. LTD. lifted its holdings in shares of CVS Health Corp (NYSE:CVS) by 11.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,770 shares of the pharmacy operator’s stock after buying an additional 10,290 shares during the quarter. CVS Health makes up approximately 1.6% of Sompo Japan Nipponkoa Asset Management CO. LTD.’s investment portfolio, making the stock its 17th largest position. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in CVS Health were worth $5,860,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. RFG Advisory LLC increased its position in shares of CVS Health by 7.5% during the fourth quarter. RFG Advisory LLC now owns 7,200 shares of the pharmacy operator’s stock worth $535,000 after purchasing an additional 503 shares in the last quarter. Davis R M Inc. purchased a new stake in shares of CVS Health during the fourth quarter worth approximately $222,000. J.W. Cole Advisors Inc. purchased a new stake in shares of CVS Health during the fourth quarter worth approximately $1,292,000. Nwam LLC purchased a new stake in shares of CVS Health during the fourth quarter worth approximately $204,000. Finally, Successful Portfolios LLC increased its position in shares of CVS Health by 8.4% during the fourth quarter. Successful Portfolios LLC now owns 4,459 shares of the pharmacy operator’s stock worth $331,000 after purchasing an additional 344 shares in the last quarter. 76.44% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE CVS traded down $0.01 during mid-day trading on Friday, reaching $63.33. 3,494,416 shares of the company’s stock were exchanged, compared to its average volume of 8,148,172. The company’s 50-day moving average is $61.11 and its 200-day moving average is $67.62. CVS Health Corp has a 52-week low of $52.04 and a 52-week high of $77.03. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.70 and a current ratio of 0.99. The firm has a market capitalization of $82.79 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 1.42 and a beta of 0.73.
CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, May 6th. The pharmacy operator reported $1.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.28. CVS Health had a return on equity of 15.17% and a net margin of 2.76%. The firm had revenue of $66.76 billion for the quarter, compared to analyst estimates of $64.11 billion. During the same quarter in the prior year, the company earned $1.62 EPS. CVS Health’s revenue was up 8.3% on a year-over-year basis. As a group, equities analysts predict that CVS Health Corp will post 7.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, May 4th. Investors of record on Thursday, April 23rd were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Wednesday, April 22nd. CVS Health’s payout ratio is 28.25%.
Several brokerages have issued reports on CVS. Deutsche Bank upped their target price on CVS Health from $97.00 to $109.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. dropped their target price on CVS Health from $97.00 to $94.00 and set an “overweight” rating for the company in a report on Monday, May 4th. Oppenheimer restated a “hold” rating on shares of CVS Health in a report on Wednesday, May 6th. ValuEngine cut CVS Health from a “sell” rating to a “strong sell” rating in a report on Thursday, April 30th. Finally, Cantor Fitzgerald upped their target price on CVS Health from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $80.88.
In other news, EVP Alan Lotvin bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average price of $63.14 per share, with a total value of $315,700.00. Following the purchase, the executive vice president now owns 15,161 shares in the company, valued at $957,265.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James David Clark sold 6,234 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $65.00, for a total value of $405,210.00. Following the transaction, the senior vice president now directly owns 4,817 shares in the company, valued at approximately $313,105. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by corporate insiders.
About CVS Health
CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.
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