Sompo Asset Management Co. Ltd. Has $8.46 Million Stake in CVS Health Co. (NYSE:CVS)

Sompo Asset Management Co. Ltd. grew its stake in shares of CVS Health Co. (NYSE:CVS) by 8.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 134,523 shares of the pharmacy operator’s stock after buying an additional 10,453 shares during the period. CVS Health makes up 1.3% of Sompo Asset Management Co. Ltd.’s investment portfolio, making the stock its 20th biggest holding. Sompo Asset Management Co. Ltd.’s holdings in CVS Health were worth $8,459,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. MidAtlantic Capital Management Inc. acquired a new stake in CVS Health during the third quarter worth $25,000. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health during the 3rd quarter valued at about $31,000. Reston Wealth Management LLC bought a new stake in CVS Health in the third quarter valued at about $32,000. Kathleen S. Wright Associates Inc. bought a new position in CVS Health during the third quarter worth about $33,000. Finally, First Community Trust NA boosted its holdings in CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock valued at $33,000 after purchasing an additional 302 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada dropped their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Mizuho dropped their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Finally, Truist Financial reaffirmed a “buy” rating and set a $67.00 price objective (down previously from $76.00) on shares of CVS Health in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and an average target price of $72.28.

CVS Health Price Performance

NYSE CVS opened at $58.01 on Friday. CVS Health Co. has a 12-month low of $52.71 and a 12-month high of $83.25. The firm’s 50 day moving average is $59.21 and its 200-day moving average is $58.61. The company has a market capitalization of $73.00 billion, a PE ratio of 14.72, a price-to-earnings-growth 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) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share 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 analysts’ expectations of $92.72 billion. During the same quarter last year, the company earned $2.21 EPS. CVS Health’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that CVS Health Co. will post 5.43 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were paid a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.59%. CVS Health’s dividend 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.