Dai ichi Life Insurance Company Ltd Has $2.37 Million Stake in CVS Health Co. (NYSE:CVS)

Dai ichi Life Insurance Company Ltd decreased its position in shares of CVS Health Co. (NYSE:CVS) by 22.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,030 shares of the pharmacy operator’s stock after selling 8,922 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in CVS Health were worth $2,371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CVS. Atticus Wealth Management LLC boosted its stake in CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after acquiring an additional 219 shares during the last quarter. USA Financial Formulas raised its holdings in CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 321 shares during the period. Cornerstone Planning Group LLC raised its holdings in CVS Health by 111.5% in the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 243 shares during the period. ZRC Wealth Management LLC raised its holdings in CVS Health by 400.0% in the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after purchasing an additional 400 shares during the period. Finally, Coston McIsaac & Partners raised its holdings in shares of CVS Health by 42.6% during the fourth quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after acquiring an additional 161 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE CVS traded up $0.84 during trading on Friday, reaching $56.49. The company’s stock had a trading volume of 892,893 shares, compared to its average volume of 11,900,659. The company has a current ratio of 0.81, a quick ratio of 0.61 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $70.92 billion, a price-to-earnings ratio of 9.92, a price-to-earnings-growth ratio of 0.55 and a beta of 0.56. CVS Health Co. has a 12 month low of $53.70 and a 12 month high of $83.25. The firm has a 50 day moving average price of $67.57 and a 200 day moving average price of $72.02.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.38). The firm had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. CVS Health’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.20 earnings per share. As a group, equities analysts anticipate that CVS Health Co. will post 7.02 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date of this dividend was Friday, April 19th. CVS Health’s payout ratio is 46.75%.

Insider Buying and Selling

In other CVS Health news, Director Edward J. Ludwig purchased 1,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were bought at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the acquisition, the director now owns 21,630 shares in the company, valued at $1,165,424.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of research analyst reports. Bank of America dropped their price objective on shares of CVS Health from $95.00 to $77.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Mizuho dropped their price objective on shares of CVS Health from $86.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. TD Cowen lowered shares of CVS Health from a “buy” rating to a “hold” rating and lowered their price target for the company from $99.00 to $59.00 in a research note on Tuesday, May 7th. UBS Group lowered shares of CVS Health from a “buy” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $60.00 in a research note on Thursday, May 2nd. Finally, Piper Sandler lifted their price target on shares of CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $76.75.

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.