Daiwa Securities Group Inc. Has $4.02 Million Stake in CVS Health (CVS)

Daiwa Securities Group Inc. grew its stake in shares of CVS Health (NYSE:CVS) by 72.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 64,575 shares of the pharmacy operator’s stock after acquiring an additional 27,077 shares during the quarter. Daiwa Securities Group Inc.’s holdings in CVS Health were worth $4,017,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Boston Partners increased its holdings in CVS Health by 16.2% in the 3rd quarter. Boston Partners now owns 7,507,793 shares of the pharmacy operator’s stock worth $610,534,000 after purchasing an additional 1,048,556 shares in the last quarter. Smith Salley & Associates increased its stake in shares of CVS Health by 2.5% in the third quarter. Smith Salley & Associates now owns 57,008 shares of the pharmacy operator’s stock valued at $4,635,000 after buying an additional 1,416 shares during the period. Jacobi Capital Management LLC increased its stake in shares of CVS Health by 44.4% in the third quarter. Jacobi Capital Management LLC now owns 17,241 shares of the pharmacy operator’s stock valued at $1,281,000 after buying an additional 5,305 shares during the period. Exchange Capital Management Inc. increased its stake in shares of CVS Health by 1.7% in the third quarter. Exchange Capital Management Inc. now owns 47,093 shares of the pharmacy operator’s stock valued at $3,830,000 after buying an additional 769 shares during the period. Finally, Telos Capital Management Inc. increased its stake in shares of CVS Health by 2.5% in the third quarter. Telos Capital Management Inc. now owns 30,350 shares of the pharmacy operator’s stock valued at $2,468,000 after buying an additional 729 shares during the period. Hedge funds and other institutional investors own 83.96% of the company’s stock.

In related news, Director C David Brown II acquired 10,000 shares of the firm’s stock in a transaction dated Friday, May 4th. The shares were purchased at an average price of $61.99 per share, for a total transaction of $619,900.00. Following the completion of the acquisition, the director now owns 101,252 shares in the company, valued at $6,276,611.48. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by insiders.

Several equities research analysts recently commented on CVS shares. Loop Capital set a $68.00 target price on CVS Health and gave the company a “hold” rating in a research report on Monday, May 7th. ValuEngine lowered CVS Health from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Bank of America cut their price target on CVS Health from $91.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, April 11th. Mizuho set a $95.00 price target on CVS Health and gave the stock a “buy” rating in a report on Wednesday, January 24th. Finally, Cowen restated an “outperform” rating and issued a $99.00 target price (up previously from $81.00) on shares of CVS Health in a report on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $86.27.

NYSE:CVS opened at $65.76 on Friday. The firm has a market cap of $67.23 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 0.99 and a beta of 1.02. CVS Health has a 52-week low of $65.60 and a 52-week high of $66.34. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.37 and a quick ratio of 1.88.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, May 2nd. The pharmacy operator reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.09. CVS Health had a return on equity of 17.45% and a net margin of 3.59%. The firm had revenue of $45.69 billion during the quarter, compared to analyst estimates of $45.77 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. The company’s revenue was up 2.6% compared to the same quarter last year. equities research analysts anticipate that CVS Health will post 6.99 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 3rd. Stockholders of record on Monday, April 23rd were issued a $0.50 dividend. The ex-dividend date was Friday, April 20th. This represents a $2.00 annualized dividend and a dividend yield of 3.04%. CVS Health’s dividend payout ratio is currently 33.90%.

CVS Health Profile

CVS Health Corporation, together with its subsidiaries, provides integrated pharmacy health care services. It operates through Pharmacy Services and Retail/LTC segments. The Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, Medicare Part D services, mail order, specialty pharmacy and infusion services, retail pharmacy network management services, prescription management systems, clinical services, disease management programs, and medical pharmacy management services.

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

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