CVS Health Co. (NYSE:CVS) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in CVS Health Co. (NYSE:CVS) by 10.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,011,087 shares of the pharmacy operator’s stock after acquiring an additional 187,086 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of CVS Health worth $92,047,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC raised its stake in shares of CVS Health by 28.7% during the third quarter. TD Private Client Wealth LLC now owns 46,938 shares of the pharmacy operator’s stock valued at $2,951,000 after purchasing an additional 10,465 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of CVS Health by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock worth $90,200,000 after acquiring an additional 66,244 shares during the period. Hall Laurie J Trustee boosted its holdings in shares of CVS Health by 25,484.4% in the fourth quarter. Hall Laurie J Trustee now owns 11,513 shares of the pharmacy operator’s stock valued at $517,000 after acquiring an additional 11,468 shares in the last quarter. B&D White Capital Company LLC bought a new stake in CVS Health during the fourth quarter worth approximately $417,000. Finally, TOMS Capital Investment Management LP bought a new position in CVS Health during the 3rd quarter valued at $121,987,000. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CVS shares. Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 3rd. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and increased their target price for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Wolfe Research lifted their price target on shares of CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Finally, StockNews.com upgraded CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.39.

CVS Health Price Performance

NYSE CVS opened at $67.59 on Friday. The firm has a market cap of $85.22 billion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The stock’s 50-day moving average is $61.83 and its two-hundred day moving average is $57.60. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. On average, analysts anticipate that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s dividend payout ratio is 72.68%.

Insider Activity

In related news, Director Michael F. Mahoney acquired 30,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the purchase, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

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.