Resona Asset Management Co. Ltd. Increases Holdings in CVS Health Corporation $CVS

Resona Asset Management Co. Ltd. increased its holdings in CVS Health Corporation (NYSE:CVS) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 461,922 shares of the pharmacy operator’s stock after buying an additional 5,714 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in CVS Health were worth $31,832,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Atlantic Union Bankshares Corp lifted its position in CVS Health by 54.8% during the second quarter. Atlantic Union Bankshares Corp now owns 98,295 shares of the pharmacy operator’s stock valued at $6,780,000 after purchasing an additional 34,804 shares during the period. SNS Financial Group LLC boosted its stake in shares of CVS Health by 2.5% in the second quarter. SNS Financial Group LLC now owns 12,788 shares of the pharmacy operator’s stock worth $882,000 after buying an additional 311 shares during the last quarter. NewSquare Capital LLC grew its holdings in CVS Health by 4.6% during the second quarter. NewSquare Capital LLC now owns 111,518 shares of the pharmacy operator’s stock worth $7,595,000 after acquiring an additional 4,854 shares during the period. Hussman Strategic Advisors Inc. purchased a new position in CVS Health during the second quarter valued at approximately $2,173,000. Finally, Wellington Shields Capital Management LLC boosted its position in CVS Health by 3.6% in the 2nd quarter. Wellington Shields Capital Management LLC now owns 7,153 shares of the pharmacy operator’s stock worth $493,000 after purchasing an additional 250 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CVS shares. Bernstein Bank decreased their target price on shares of CVS Health from $78.00 to $72.00 and set a “market perform” rating for the company in a research note on Wednesday, July 16th. Cowen reiterated a “buy” rating on shares of CVS Health in a research report on Monday, August 4th. Wells Fargo & Company raised their target price on CVS Health from $84.00 to $103.00 and gave the company an “overweight” rating in a research report on Tuesday, October 7th. The Goldman Sachs Group started coverage on CVS Health in a report on Tuesday, October 14th. They issued a “buy” rating and a $91.00 price target for the company. Finally, Sanford C. Bernstein raised their price objective on CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a report on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.82.

CVS Health Stock Up 0.3%

Shares of NYSE CVS opened at $78.80 on Friday. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $85.15. The company has a market capitalization of $100.03 billion, a P/E ratio of 207.37, a P/E/G ratio of 0.87 and a beta of 0.60. The company has a 50 day simple moving average of $77.04 and a 200-day simple moving average of $69.33. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.62.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.24. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.The company had revenue of $102.87 billion during the quarter, compared to analysts’ expectations of $98.85 billion. During the same quarter last year, the firm earned $1.09 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. On average, equities research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is 700.00%.

Insider Activity

In other news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the transaction, the director directly owned 22,156 shares in the company, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.22% of the company’s stock.

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.