Daiwa Securities Group Inc. Purchases 37,509 Shares of CVS Health Corporation $CVS

Daiwa Securities Group Inc. increased its position in shares of CVS Health Corporation (NYSE:CVS) by 21.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 216,152 shares of the pharmacy operator’s stock after buying an additional 37,509 shares during the period. Daiwa Securities Group Inc.’s holdings in CVS Health were worth $14,910,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Avion Wealth lifted its stake in CVS Health by 99.0% in the 2nd quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock valued at $26,000 after purchasing an additional 189 shares during the last quarter. Harbor Asset Planning Inc. acquired a new stake in shares of CVS Health in the second quarter valued at approximately $30,000. Bell Investment Advisors Inc boosted its stake in shares of CVS Health by 119.8% during the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock worth $31,000 after acquiring an additional 248 shares during the period. Roxbury Financial LLC raised its stake in CVS Health by 78.3% in the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 202 shares during the period. Finally, ORG Partners LLC lifted its holdings in CVS Health by 418.9% during the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 377 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of CVS Health from $103.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Evercore ISI increased their price target on shares of CVS Health from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Robert W. Baird upgraded CVS Health from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $71.00 to $82.00 in a report on Thursday, August 14th. Truist Financial reiterated a “buy” rating and set a $95.00 target price (up previously from $92.00) on shares of CVS Health in a research note on Thursday, October 30th. Finally, Mizuho boosted their price target on CVS Health from $76.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.67.

CVS Health Trading Up 2.3%

Shares of CVS stock opened at $78.31 on Wednesday. The stock has a market cap of $99.41 billion, a P/E ratio of 206.08, a price-to-earnings-growth ratio of 0.75 and a beta of 0.48. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $85.15. The company has a current ratio of 0.83, a quick ratio of 0.63 and a debt-to-equity ratio of 0.83. The stock has a 50 day simple moving average of $78.82 and a 200 day simple moving average of $71.59.

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

CVS Health Dividend Announcement

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

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.