CVS Health Co. (NYSE:CVS) Shares Bought by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. raised its position in shares of CVS Health Co. (NYSE:CVS) by 19.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,070 shares of the pharmacy operator’s stock after acquiring an additional 20,386 shares during the quarter. CVS Health makes up about 1.2% of Sompo Asset Management Co. Ltd.’s holdings, making the stock its 20th largest holding. Sompo Asset Management Co. Ltd.’s holdings in CVS Health were worth $7,328,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ables Iannone Moore & Associates Inc. acquired a new position in CVS Health in the 4th quarter valued at $32,000. First Community Trust NA grew its holdings in shares of CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after buying an additional 302 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of CVS Health in the fourth quarter valued at about $34,000. Steph & Co. boosted its position in CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock worth $35,000 after acquiring an additional 288 shares during the last quarter. Finally, ORG Partners LLC grew its stake in CVS Health by 11,840.0% during the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock valued at $35,000 after acquiring an additional 592 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 1.5 %

Shares of NYSE CVS opened at $57.51 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $72.20 billion, a PE ratio of 10.11, a PEG ratio of 0.79 and a beta of 0.53. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25. The stock has a fifty day simple moving average of $58.31 and a 200-day simple moving average of $62.60.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.10. The company had revenue of $91.23 billion during the quarter, compared to the consensus estimate of $91.41 billion. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. CVS Health’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.21 EPS. On average, equities analysts forecast that CVS Health Co. will post 6.51 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, October 21st will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.63%. CVS Health’s dividend payout ratio (DPR) is presently 46.75%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. JPMorgan Chase & Co. dropped their target price on CVS Health from $101.00 to $86.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Robert W. Baird initiated coverage on CVS Health in a report on Thursday, May 30th. They set a “neutral” rating and a $61.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of CVS Health from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, Barclays reduced their target price on shares of CVS Health from $65.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $72.10.

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.