CVS Health Corp (NYSE:CVS) Shares Bought by Sompo Japan Nipponkoa Asset Management CO. LTD.

Sompo Japan Nipponkoa Asset Management CO. LTD. raised its stake in CVS Health Corp (NYSE:CVS) by 11.6% in the first quarter, HoldingsChannel.com reports. The fund owned 98,770 shares of the pharmacy operator’s stock after purchasing an additional 10,290 shares during the quarter. CVS Health comprises approximately 1.6% of Sompo Japan Nipponkoa Asset Management CO. LTD.’s portfolio, making the stock its 17th biggest position. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in CVS Health were worth $5,860,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Williams Jones Wealth Management LLC. raised its holdings in shares of CVS Health by 0.9% in the fourth quarter. Williams Jones Wealth Management LLC. now owns 15,527 shares of the pharmacy operator’s stock worth $1,154,000 after acquiring an additional 143 shares during the last quarter. Meiji Yasuda Life Insurance Co raised its holdings in shares of CVS Health by 0.9% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 16,214 shares of the pharmacy operator’s stock worth $1,205,000 after acquiring an additional 152 shares during the last quarter. Abbrea Capital LLC raised its holdings in shares of CVS Health by 2.6% in the first quarter. Abbrea Capital LLC now owns 6,198 shares of the pharmacy operator’s stock worth $368,000 after acquiring an additional 159 shares during the last quarter. Advisory Alpha LLC raised its holdings in shares of CVS Health by 25.2% in the first quarter. Advisory Alpha LLC now owns 799 shares of the pharmacy operator’s stock worth $49,000 after acquiring an additional 161 shares during the last quarter. Finally, Ballast Advisors LLC raised its holdings in shares of CVS Health by 3.0% in the first quarter. Ballast Advisors LLC now owns 5,836 shares of the pharmacy operator’s stock worth $346,000 after acquiring an additional 169 shares during the last quarter. 76.44% of the stock is owned by institutional investors.

CVS stock traded down $0.01 during trading on Friday, reaching $63.33. 3,494,416 shares of the stock traded hands, compared to its average volume of 8,148,172. The business’s 50 day moving average price is $61.11 and its 200-day moving average price is $67.62. CVS Health Corp has a 52-week low of $52.04 and a 52-week high of $77.03. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.99 and a quick ratio of 0.70. The firm has a market capitalization of $82.79 billion, a PE ratio of 11.47, a P/E/G ratio of 1.42 and a beta of 0.73.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, May 6th. The pharmacy operator reported $1.91 EPS for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.28. The company had revenue of $66.76 billion for the quarter, compared to analysts’ expectations of $64.11 billion. CVS Health had a return on equity of 15.17% and a net margin of 2.76%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 earnings per share. On average, equities research analysts predict that CVS Health Corp will post 7.08 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 4th. Shareholders of record on Thursday, April 23rd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Wednesday, April 22nd. CVS Health’s dividend payout ratio is presently 28.25%.

In other CVS Health news, SVP James David Clark sold 6,234 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $65.00, for a total transaction of $405,210.00. Following the transaction, the senior vice president now owns 4,817 shares in the company, valued at $313,105. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Alan Lotvin acquired 5,000 shares of CVS Health stock in a transaction on Monday, May 11th. The shares were bought at an average price of $63.14 per share, for a total transaction of $315,700.00. Following the purchase, the executive vice president now owns 15,161 shares of the company’s stock, valued at $957,265.54. The disclosure for this purchase can be found here. Insiders own 0.46% of the company’s stock.

A number of brokerages have recently commented on CVS. Morgan Stanley lifted their price objective on CVS Health from $71.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $77.00 price objective on shares of CVS Health in a research report on Wednesday, May 6th. Cfra lifted their price objective on CVS Health from $85.00 to $86.00 and gave the company a “strong-buy” rating in a research report on Wednesday, February 12th. Oppenheimer reaffirmed a “hold” rating on shares of CVS Health in a research report on Wednesday, May 6th. Finally, UBS Group lowered their price objective on CVS Health from $85.00 to $79.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $80.88.

CVS Health Company Profile

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

Featured Article: What is Depreciation?

Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Corp (NYSE:CVS).

Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.