Resona Asset Management Co. Ltd. Grows Position in CVS Health Corporation $CVS

Resona Asset Management Co. Ltd. raised its position in CVS Health Corporation (NYSE:CVS) by 1.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 461,922 shares of the pharmacy operator’s stock after acquiring an additional 5,714 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in CVS Health were worth $31,832,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Atlantic Union Bankshares Corp raised its holdings in shares of CVS Health by 54.8% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 98,295 shares of the pharmacy operator’s stock valued at $6,780,000 after purchasing an additional 34,804 shares in the last quarter. SNS Financial Group LLC increased its holdings in CVS Health by 2.5% in the second quarter. SNS Financial Group LLC now owns 12,788 shares of the pharmacy operator’s stock valued at $882,000 after buying an additional 311 shares during the last quarter. NewSquare Capital LLC raised its stake in CVS Health by 4.6% in the second quarter. NewSquare Capital LLC now owns 111,518 shares of the pharmacy operator’s stock valued at $7,595,000 after buying an additional 4,854 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in CVS Health during the 2nd quarter worth about $2,173,000. Finally, Wellington Shields Capital Management LLC boosted its position in shares of CVS Health by 3.6% during the 2nd quarter. Wellington Shields Capital Management LLC now owns 7,153 shares of the pharmacy operator’s stock worth $493,000 after acquiring an additional 250 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CVS. Mizuho raised their target price on CVS Health from $76.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Zacks Research downgraded shares of CVS Health from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Jefferies Financial Group upped their target price on shares of CVS Health from $92.00 to $98.00 in a report on Thursday, October 30th. Raymond James Financial lifted their price target on shares of CVS Health from $75.00 to $90.00 in a research note on Friday, October 31st. Finally, UBS Group upped their price objective on shares of CVS Health from $79.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.82.

CVS Health Price Performance

Shares of CVS opened at $78.80 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.62 and a current ratio of 0.83. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $85.15. The firm has a 50-day simple moving average of $77.04 and a 200-day simple moving average of $69.33. The company has a market capitalization of $100.03 billion, a price-to-earnings ratio of 207.37, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.24. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.The firm had revenue of $102.87 billion for the quarter, compared to analysts’ expectations of $98.85 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. On average, equities research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 23rd were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is 700.00%.

Insider Transactions at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the transaction, the director owned 22,156 shares in the company, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.22% of the company’s stock.

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.