Dai ichi Life Insurance Company Ltd Lowers Stock Holdings in CVS Health Co. (NYSE:CVS)

Dai ichi Life Insurance Company Ltd decreased its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 30.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,206 shares of the pharmacy operator's stock after selling 9,000 shares during the period. Dai ichi Life Insurance Company Ltd's holdings in CVS Health were worth $1,271,000 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 stake in CVS Health in the 3rd quarter valued at $25,000. Livelsberger Financial Advisory purchased a new stake in shares of CVS Health in the third quarter valued at about $31,000. Reston Wealth Management LLC bought a new position in shares of CVS Health during the third quarter valued at about $32,000. Kathleen S. Wright Associates Inc. purchased a new position in CVS Health during the third quarter worth about $33,000. Finally, First Community Trust NA grew its position in CVS Health by 116.2% in the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator's stock worth $33,000 after purchasing an additional 302 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Price Performance

CVS stock traded up $0.95 during mid-day trading on Thursday, reaching $59.96. 7,596,294 shares of the company traded hands, compared to its average volume of 11,346,436. The company has a fifty day moving average price of $59.33 and a 200-day moving average price of $58.73. CVS Health Co. has a 52-week low of $52.71 and a 52-week high of $83.25. The company has a market capitalization of $75.45 billion, a P/E ratio of 15.22, a P/E/G ratio of 1.01 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59.

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

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were paid a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a yield of 4.44%. CVS Health's dividend payout ratio is currently 67.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald restated a "neutral" rating and issued a $62.00 target price on shares of CVS Health in a research note on Tuesday, October 1st. Wells Fargo & Company upgraded CVS Health from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $60.00 to $66.00 in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft lowered their target price on CVS Health from $64.00 to $63.00 and set a "hold" rating on the stock in a research note on Friday, August 9th. Truist Financial restated a "buy" rating and set a $67.00 price target (down previously from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. Finally, UBS Group lifted their price objective on shares of CVS Health from $60.00 to $62.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, CVS Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.33.

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.