Sompo Asset Management Co. Ltd. Raises Holdings in CVS Health Co. (NYSE:CVS)

Sompo Asset Management Co. Ltd. raised its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 8.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 134,523 shares of the pharmacy operator's stock after acquiring an additional 10,453 shares during the period. CVS Health makes up approximately 1.3% of Sompo Asset Management Co. Ltd.'s holdings, making the stock its 20th biggest position. Sompo Asset Management Co. Ltd.'s holdings in CVS Health were worth $8,459,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new position in shares of CVS Health in the third quarter worth approximately $25,000. Livelsberger Financial Advisory bought a new stake in shares of CVS Health during the 3rd quarter valued at $31,000. Reston Wealth Management LLC bought a new position in CVS Health in the 3rd quarter worth $32,000. First Community Trust NA increased its position in CVS Health by 116.2% in 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. Finally, Kathleen S. Wright Associates Inc. purchased a new position in CVS Health during the third quarter valued at approximately $33,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Up 1.6 %

Shares of CVS Health stock traded up $0.91 during trading on Friday, reaching $58.01. The company's stock had a trading volume of 11,153,900 shares, compared to its average volume of 12,620,673. The company has a 50-day simple moving average of $59.21 and a two-hundred day simple moving average of $58.61. CVS Health Co. has a 1-year low of $52.71 and a 1-year high of $83.25. The company has a market cap of $73.00 billion, a price-to-earnings ratio of 14.72, a P/E/G ratio of 0.96 and a beta of 0.55. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to analysts' expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the business posted $2.21 earnings per share. As a group, equities analysts forecast that CVS Health Co. will post 5.43 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.59%. CVS Health's dividend payout ratio is currently 67.51%.

Wall Street Analysts Forecast Growth

CVS has been the topic of several recent analyst reports. Truist Financial reiterated a "buy" rating and set a $67.00 price objective (down previously from $76.00) on shares of CVS Health in a research report on Wednesday. Royal Bank of Canada reduced their target price on CVS Health from $68.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, November 15th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. TD Cowen upgraded CVS Health from a "hold" rating to a "buy" rating and increased their target price for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of CVS Health from $64.00 to $63.00 and set a "hold" rating for the company in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $72.28.

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.