Dai ichi Life Insurance Company Ltd Has $1.27 Million Stake in CVS Health Co. (NYSE:CVS)

Dai ichi Life Insurance Company Ltd cut its stake in CVS Health Co. (NYSE:CVS) by 30.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,206 shares of the pharmacy operator’s stock after selling 9,000 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in CVS Health were worth $1,271,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. MidAtlantic Capital Management Inc. bought a new position in CVS Health during the 3rd quarter valued at $25,000. Livelsberger Financial Advisory bought a new position in shares of CVS Health during the third quarter valued at about $31,000. Reston Wealth Management LLC purchased a new position in CVS Health during the third quarter worth about $32,000. 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. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in CVS Health in the 3rd quarter valued at about $33,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CVS. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 target price on shares of CVS Health in a report on Tuesday, October 1st. Piper Sandler decreased their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday. Royal Bank of Canada cut their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $60.00 to $66.00 in a research report on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $70.33.

CVS Health Stock Up 1.6 %

Shares of NYSE:CVS opened at $59.96 on Thursday. The firm has a fifty day moving average price of $59.30 and a two-hundred day moving average price of $58.72. The company has a market cap of $75.45 billion, a price-to-earnings ratio of 15.22, a PEG 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 Co. has a one year low of $52.71 and a one year high of $83.25.

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

CVS Health Announces Dividend

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

CVS Health 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.