CVS Health Corporation $CVS Shares Sold by Conning Inc.

Conning Inc. cut its stake in shares of CVS Health Corporation (NYSE:CVS) by 3.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,929 shares of the pharmacy operator’s stock after selling 325 shares during the quarter. Conning Inc.’s holdings in CVS Health were worth $547,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bell Investment Advisors Inc grew its position in CVS Health by 119.8% during the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock worth $31,000 after buying an additional 248 shares during the period. Roxbury Financial LLC grew its holdings in shares of CVS Health by 78.3% in the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 202 shares during the period. ORG Partners LLC grew its holdings in shares of CVS Health by 418.9% in the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 377 shares during the period. Saudi Central Bank acquired a new stake in shares of CVS Health in the 1st quarter worth approximately $34,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of CVS Health in the 2nd quarter worth approximately $35,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Barclays upped their target price on CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, September 4th. UBS Group raised shares of CVS Health from a “neutral” rating to a “buy” rating and increased their price objective for the company from $67.00 to $79.00 in a research note on Monday, August 18th. Cowen reissued a “buy” rating on shares of CVS Health in a research note on Monday, August 4th. Mizuho increased their price target on shares of CVS Health from $76.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Morgan Stanley increased their price target on shares of CVS Health from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.80.

CVS Health Price Performance

CVS Health stock opened at $77.89 on Friday. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $79.20. The stock has a market capitalization of $98.79 billion, a P/E ratio of 21.76, a P/E/G ratio of 0.86 and a beta of 0.60. The firm’s 50-day moving average is $72.28 and its two-hundred day moving average is $67.67. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62.

CVS Health (NYSE:CVS) last announced its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The firm had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same quarter last year, the business earned $1.83 earnings per share. CVS Health’s revenue was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be issued a $0.665 dividend. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.4%. CVS Health’s dividend payout ratio (DPR) is presently 74.30%.

Insiders Place Their Bets

In other news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the transaction, the director directly owned 22,156 shares of the company’s stock, valued at $1,573,519.12. The trade was a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.22% of the company’s stock.

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.