Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in CVS Health Co. (NYSE:CVS)

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in CVS Health Co. (NYSE:CVS - Free Report) by 6.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,287,192 shares of the pharmacy operator's stock after buying an additional 83,623 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.10% of CVS Health worth $104,108,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. M&G Investment Management Ltd. increased its holdings in CVS Health by 2.3% in the 4th quarter. M&G Investment Management Ltd. now owns 830,302 shares of the pharmacy operator's stock worth $65,594,000 after buying an additional 18,943 shares during the period. Westpac Banking Corp increased its stake in shares of CVS Health by 3.8% in the fourth quarter. Westpac Banking Corp now owns 42,945 shares of the pharmacy operator's stock worth $3,391,000 after acquiring an additional 1,580 shares during the period. Quotient Wealth Partners LLC purchased a new position in shares of CVS Health during the fourth quarter worth $692,000. Moran Wealth Management LLC boosted its holdings in CVS Health by 109.6% in the fourth quarter. Moran Wealth Management LLC now owns 22,588 shares of the pharmacy operator's stock valued at $1,784,000 after purchasing an additional 11,813 shares during the last quarter. Finally, RBA Wealth Management LLC raised its stake in shares of CVS Health by 1.8% during the 4th quarter. RBA Wealth Management LLC now owns 51,276 shares of the pharmacy operator's stock valued at $4,049,000 after buying an additional 915 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Price Performance

Shares of CVS stock traded down $0.48 during trading hours on Tuesday, reaching $55.99. The company had a trading volume of 15,407,674 shares, compared to its average volume of 11,883,982. CVS Health Co. has a 12-month low of $53.70 and a 12-month high of $83.25. The company has a market capitalization of $70.29 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 0.88 and a beta of 0.56. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. The stock has a fifty day moving average of $70.46 and a 200-day moving average of $72.73.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.69 by ($0.38). The company had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm's revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $2.20 earnings per share. On average, equities analysts anticipate that CVS Health Co. will post 7.02 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.75%. The ex-dividend date was Friday, April 19th. CVS Health's payout ratio is presently 46.75%.

Insider Buying and Selling

In other CVS Health news, Director Edward J. Ludwig acquired 1,000 shares of the business's stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average cost of $53.88 per share, with a total value of $53,880.00. Following the transaction, the director now owns 21,630 shares of the company's stock, valued at $1,165,424.40. The transaction was disclosed in a filing with the SEC, which is available at this link. In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the business's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the sale, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward J. Ludwig acquired 1,000 shares of the company's stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average price of $53.88 per share, with a total value of $53,880.00. Following the acquisition, the director now directly owns 21,630 shares of the company's stock, valued at approximately $1,165,424.40. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Argus dropped their target price on CVS Health from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Wednesday, May 8th. TD Cowen cut shares of CVS Health from a "buy" rating to a "hold" rating and decreased their target price for the company from $99.00 to $59.00 in a research note on Tuesday, May 7th. Bank of America cut their price objective on shares of CVS Health from $95.00 to $77.00 and set a "buy" rating for the company in a report on Thursday, May 2nd. SVB Leerink reissued a "market perform" rating and set a $60.00 target price (down from $87.00) on shares of CVS Health in a research note on Wednesday, May 1st. Finally, Wells Fargo & Company cut their price target on CVS Health from $76.00 to $60.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 7th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $76.75.

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.