CVS Health Corporation $CVS Shares Bought by Asset Management One Co. Ltd.

Key Points

• Asset Management One Co. Ltd. increased its stake in CVS Health by 7.3%, holding 551,705 shares valued at approximately $38 million as of the latest SEC filing.
• CVS Health reported better-than-expected earnings with $1.81 EPS, surpassing estimates by $0.35, and revenue of $98.92 billion for the last quarter.
• The company announced a quarterly dividend of $0.665 per share, set to be paid on November 3rd, representing an annualized yield of 3.2%.

Asset Management One Co. Ltd. raised its position in CVS Health Corporation (NYSE:CVS - Free Report) by 7.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 551,705 shares of the pharmacy operator's stock after acquiring an additional 37,350 shares during the period. Asset Management One Co. Ltd.'s holdings in CVS Health were worth $38,057,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in CVS Health by 0.8% in the first quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator's stock valued at $8,017,223,000 after acquiring an additional 969,027 shares in the last quarter. Dodge & Cox boosted its stake in CVS Health by 4.8% in the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator's stock valued at $4,976,856,000 after acquiring an additional 3,353,223 shares in the last quarter. Invesco Ltd. boosted its stake in CVS Health by 13.2% in the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator's stock valued at $1,383,039,000 after acquiring an additional 2,375,764 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in CVS Health by 14.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator's stock valued at $1,037,205,000 after acquiring an additional 1,942,886 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in CVS Health by 5.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator's stock valued at $924,643,000 after acquiring an additional 728,924 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction 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 completion of the transaction, the director owned 22,156 shares of the company's stock, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.22% of the company's stock.

CVS Health Trading Up 1.1%

Shares of CVS Health stock opened at $81.95 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The firm has a fifty day moving average price of $75.57 and a 200 day moving average price of $68.67. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $83.52. The stock has a market cap of $103.94 billion, a PE ratio of 22.89, a price-to-earnings-growth ratio of 0.89 and a beta of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The firm had revenue of $98.92 billion during the quarter, compared to analysts' expectations of $94.87 billion. During the same quarter last year, the company posted $1.83 earnings per share. The firm's revenue was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.2%. CVS Health's payout ratio is presently 74.30%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CVS. Morgan Stanley lifted their price objective on shares of CVS Health from $82.00 to $89.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 14th. Zacks Research downgraded shares of CVS Health from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Mizuho lifted their price objective on shares of CVS Health from $76.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday, October 9th. Sanford C. Bernstein lifted their price objective on shares of CVS Health from $72.00 to $77.00 and gave the stock a "market perform" rating in a research note on Friday, September 5th. Finally, Wells Fargo & Company lifted their price objective on shares of CVS Health from $84.00 to $103.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, CVS Health currently has a consensus rating of "Moderate Buy" and an average target price of $83.38.

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.

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