Nissay Asset Management Corp Japan ADV Sells 1,049 Shares of CVS Health Co. (NYSE:CVS)

Nissay Asset Management Corp Japan ADV decreased its position in shares of CVS Health Co. (NYSE:CVS) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 156,570 shares of the pharmacy operator’s stock after selling 1,049 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in CVS Health were worth $6,966,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CVS. Stonebridge Financial Group LLC bought a new position in shares of CVS Health in the 4th quarter valued at $28,000. Hopwood Financial Services Inc. bought a new position in CVS Health in the fourth quarter valued at about $29,000. Financial Perspectives Inc raised its stake in CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after acquiring an additional 466 shares in the last quarter. MidAtlantic Capital Management Inc. lifted its holdings in shares of CVS Health by 112.1% in the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock worth $37,000 after acquiring an additional 437 shares during the last quarter. Finally, Compass Planning Associates Inc acquired a new stake in shares of CVS Health in the 4th quarter valued at approximately $37,000. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Up 0.6%

Shares of NYSE CVS opened at $60.42 on Friday. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $72.51. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The company’s 50 day moving average price is $66.62 and its 200-day moving average price is $59.16. The company has a market capitalization of $76.43 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The business had revenue of $94.59 billion for the quarter, compared to analysts’ expectations of $93.07 billion. During the same quarter in the prior year, the firm posted $1.31 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities analysts forecast that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 4.40%. CVS Health’s dividend payout ratio is currently 63.48%.

Insider Buying and Selling at CVS Health

In related news, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the purchase, the director now directly owns 39,356 shares of the company’s stock, valued at $2,625,045.20. The trade was a 320.65% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. This represents a 47.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.22% of the company’s stock.

Analysts Set New Price Targets

CVS has been the subject of several research reports. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Leerink Partnrs upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Evercore ISI raised their price objective on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Argus set a $77.00 target price on CVS Health in a report on Tuesday, February 18th. Finally, Wolfe Research lifted their price target on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.94.

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.