Mitsubishi UFJ Asset Management Co. Ltd. Purchases 187,086 Shares of CVS Health Co. (NYSE:CVS)

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in CVS Health Co. (NYSE:CVS) by 10.3% in the 4th quarter, Holdings Channel reports. The firm owned 2,011,087 shares of the pharmacy operator’s stock after buying an additional 187,086 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in CVS Health were worth $92,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of CVS. Legacy Investment Solutions LLC bought a new stake in CVS Health in the third quarter valued at about $31,000. Ridgewood Investments LLC boosted its holdings in CVS Health by 255.7% during the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after purchasing an additional 450 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of CVS Health in the 4th quarter valued at approximately $28,000. RPg Family Wealth Advisory LLC bought a new position in shares of CVS Health during the 3rd quarter worth approximately $40,000. Finally, Hopwood Financial Services Inc. acquired a new stake in CVS Health in the 4th quarter valued at $29,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of CVS Health stock opened at $67.59 on Friday. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81. The stock has a market capitalization of $85.22 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 0.98 and a beta of 0.54. The firm has a fifty day moving average of $61.83 and a two-hundred day moving average of $57.60.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. As a group, equities research analysts predict that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

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 issued a $0.665 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 annualized dividend and a yield of 3.94%. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Insider Transactions at CVS Health

In other news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction dated Wednesday, March 5th. The stock was 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 in the company, valued at $556,941.90. The trade was a 47.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael F. Mahoney bought 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the purchase, the director now owns 39,356 shares in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CVS shares. JPMorgan Chase & Co. boosted their target price on shares of CVS Health from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Truist Financial upped their price objective on shares of CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Tuesday, December 3rd. Piper Sandler raised their price target on CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Finally, StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $70.39.

CVS Health Company 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.