Daiwa Securities Group Inc. Acquires 16,549 Shares of CVS Health Co. (NYSE:CVS)

Daiwa Securities Group Inc. grew its holdings in shares of CVS Health Co. (NYSE:CVS) by 12.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,359 shares of the pharmacy operator’s stock after acquiring 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 and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. MidAtlantic Capital Management Inc. bought a new position in shares of CVS Health in the third quarter worth about $25,000. Livelsberger Financial Advisory bought a new stake in CVS Health during the 3rd quarter worth approximately $31,000. Reston Wealth Management LLC purchased a new position in CVS Health during the third quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. bought a new position in shares of CVS Health in the third quarter worth approximately $33,000. Finally, First Community Trust NA increased its stake in shares of CVS Health by 116.2% in the second 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 currently owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of CVS Health stock opened at $60.10 on Tuesday. The stock has a 50 day moving average price of $59.25 and a 200-day moving average price of $58.67. CVS Health Co. has a one year low of $52.71 and a one year high of $83.25. The stock has a market cap of $75.63 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 0.98 and a beta of 0.55. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last announced its earnings results 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. The business had revenue of $95.43 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.21 earnings per share. Equities analysts expect that CVS Health Co. will post 5.43 EPS for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.665 dividend. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.43%. CVS Health’s payout ratio is 67.51%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wells Fargo & Company raised shares of CVS Health from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $60.00 to $66.00 in a report on Monday, November 18th. Royal Bank of Canada cut their target price on CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft lowered their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a report on Tuesday, October 1st. Finally, StockNews.com lowered shares of CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.33.

About CVS Health

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.