Tokio Marine Asset Management Co. Ltd. Grows Stock Holdings in CVS Health Co. (NYSE:CVS)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in CVS Health Co. (NYSE:CVS) by 7.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 33,660 shares of the pharmacy operator’s stock after buying an additional 2,472 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in CVS Health were worth $2,117,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CVS. Capital World Investors raised its stake in CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after purchasing an additional 3,232,172 shares during the period. Capital International Investors lifted its holdings in shares of CVS Health by 12.5% in the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after buying an additional 4,226,225 shares in the last quarter. Capital Research Global Investors boosted its position in shares of CVS Health by 1.4% during the first quarter. Capital Research Global Investors now owns 13,143,822 shares of the pharmacy operator’s stock worth $1,048,351,000 after acquiring an additional 184,297 shares during the last quarter. Pzena Investment Management LLC grew its stake in CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after acquiring an additional 7,382,931 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in CVS Health by 5.9% in the 1st quarter. Lazard Asset Management LLC now owns 6,963,508 shares of the pharmacy operator’s stock valued at $555,406,000 after acquiring an additional 389,166 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Trading Up 1.5 %

NYSE CVS opened at $55.11 on Friday. The stock has a market cap of $69.35 billion, a PE ratio of 13.99, a PEG ratio of 0.93 and a beta of 0.55. CVS Health Co. has a 12 month low of $52.77 and a 12 month high of $83.25. The company’s 50-day moving average price is $59.41 and its 200-day moving average price is $58.79. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.21 EPS. Equities research analysts forecast that CVS Health Co. will post 5.48 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.83%. CVS Health’s payout ratio is currently 67.51%.

Analyst Ratings Changes

CVS has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Wells Fargo & Company reduced their price objective on CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Truist Financial raised their target price on shares of CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 11th. Evercore ISI upped their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $59.00 to $85.00 in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

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.