Chevy Chase Trust Holdings LLC Increases Holdings in CVS Health Corporation $CVS

Chevy Chase Trust Holdings LLC boosted its holdings in shares of CVS Health Corporation (NYSE:CVS) by 0.9% during the second quarter, Holdings Channel reports. The firm owned 681,685 shares of the pharmacy operator’s stock after acquiring an additional 6,368 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in CVS Health were worth $47,023,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Harbor Asset Planning Inc. purchased a new position in CVS Health during the 2nd quarter valued at about $30,000. Bell Investment Advisors Inc increased its holdings in CVS Health by 119.8% during the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock valued at $31,000 after purchasing an additional 248 shares during the period. Roxbury Financial LLC increased its holdings in CVS Health by 78.3% during the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 202 shares during the period. ORG Partners LLC increased 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 period. Finally, Saudi Central Bank purchased a new position in CVS Health during the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CVS Health in a research report on Tuesday. Wolfe Research lifted their price objective on CVS Health from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Wall Street Zen raised CVS Health from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $78.00 price objective on shares of CVS Health in a research report on Tuesday, August 26th. Finally, Jefferies Financial Group lifted their price objective on CVS Health from $80.00 to $92.00 in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned 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 $82.57.

Insiders Place Their Bets

In related news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction that occurred on 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 approximately $1,573,519.12. This represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.22% of the stock is currently owned by insiders.

CVS Health Price Performance

CVS stock opened at $82.64 on Friday. The firm has a 50 day moving average price of $74.00 and a 200-day moving average price of $68.12. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $82.88. The firm has a market capitalization of $104.81 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 0.90 and a beta of 0.60. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last released its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $94.87 billion. During the same period last year, the business earned $1.83 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is presently 74.30%.

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.