Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of CVS Health Corp (NYSE:CVS) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 262,737 shares of the pharmacy operator’s stock after acquiring an additional 4,072 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in CVS Health were worth $15,588,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. New England Investment & Retirement Group Inc. bought a new stake in CVS Health in the first quarter valued at $25,000. Firestone Capital Management acquired a new stake in shares of CVS Health in the 4th quarter valued at $26,000. FSA Wealth Management LLC acquired a new stake in shares of CVS Health in the 4th quarter valued at $28,000. PrairieView Partners LLC acquired a new stake in shares of CVS Health during the 1st quarter worth about $29,000. Finally, Filbrandt Wealth Management LLC acquired a new stake in shares of CVS Health during the 4th quarter worth about $33,000. 76.44% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP James David Clark sold 3,030 shares of CVS Health stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $60.00, for a total value of $181,800.00. Following the sale, the senior vice president now owns 12,790 shares of the company’s stock, valued at approximately $767,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alan Lotvin bought 5,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $63.14 per share, for a total transaction of $315,700.00. Following the purchase, the executive vice president now directly owns 15,161 shares in the company, valued at approximately $957,265.54. The disclosure for this purchase can be found here. 0.46% of the stock is owned by corporate insiders.
CVS Health (NYSE:CVS) last released its quarterly earnings results on Wednesday, May 6th. The pharmacy operator reported $1.91 EPS for the quarter, topping the Zacks’ 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 company had revenue of $66.76 billion for the quarter, compared to analyst estimates of $64.11 billion. During the same quarter last year, the firm posted $1.62 earnings per share. CVS Health’s revenue was up 8.3% compared to the same quarter last year. Research analysts expect that CVS Health Corp will post 7.08 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 4th. Stockholders of record on Thursday, April 23rd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Wednesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is presently 28.25%.
CVS has been the subject of several recent analyst reports. Credit Suisse Group raised shares of CVS Health from a “neutral” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Thursday, May 14th. They noted that the move was a valuation call. Oppenheimer reiterated a “hold” rating on shares of CVS Health in a research report on Wednesday, May 6th. Citigroup decreased their target price on CVS Health from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Tigress Financial restated a “buy” rating on shares of CVS Health in a research note on Friday, April 24th. Finally, Robert W. Baird upped their price target on shares of CVS Health from $62.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. CVS Health currently has a consensus rating of “Buy” and a consensus target price of $80.88.
CVS Health Profile
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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