Daiwa Securities Group Inc. Boosts Position in CVS Health Co. (NYSE:CVS)

Daiwa Securities Group Inc. increased its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 12.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 153,359 shares of the pharmacy operator's stock after purchasing an additional 16,549 shares during the period. Daiwa Securities Group Inc.'s holdings in CVS Health were worth $9,643,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Pzena Investment Management LLC increased its holdings in CVS Health by 1.5% during the third quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator's stock valued at $825,948,000 after buying an additional 198,920 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in CVS Health by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator's stock valued at $767,681,000 after buying an additional 304,386 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of CVS Health by 33.5% in the second quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator's stock worth $310,722,000 after purchasing an additional 1,327,855 shares during the period. National Pension Service boosted its position in shares of CVS Health by 17.4% in the third quarter. National Pension Service now owns 2,843,402 shares of the pharmacy operator's stock worth $178,793,000 after purchasing an additional 421,416 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of CVS Health by 2.4% in the second quarter. Bank of Montreal Can now owns 2,436,343 shares of the pharmacy operator's stock worth $143,890,000 after purchasing an additional 57,214 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVS has been the subject of a number of recent analyst reports. TD Cowen upped their price target on shares of CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday. UBS Group upped their target price 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. Cantor Fitzgerald restated a "neutral" rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. Truist Financial restated a "buy" rating and set a $67.00 target price (down previously from $76.00) on shares of CVS Health in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company upgraded CVS Health from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.33.

CVS Health Trading Down 1.8 %

Shares of CVS Health stock traded down $1.06 during trading on Tuesday, hitting $59.02. The stock had a trading volume of 7,884,767 shares, compared to its average volume of 11,362,798. The firm's fifty day simple moving average is $59.25 and its 200-day simple moving average is $58.67. The stock has a market cap of $74.27 billion, a PE ratio of 15.25, a PEG ratio of 0.98 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 Co. has a 12 month low of $52.71 and a 12 month high of $83.25.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results 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 analyst estimates of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business's revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business earned $2.21 EPS. As a group, sell-side analysts expect that CVS Health Co. will post 5.43 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health's dividend payout ratio is presently 67.51%.

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.