Harbour Investments Inc. Sells 911 Shares of CVS Health Corporation $CVS

Harbour Investments Inc. decreased its holdings in CVS Health Corporation (NYSE:CVS) by 15.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,966 shares of the pharmacy operator’s stock after selling 911 shares during the period. Harbour Investments Inc.’s holdings in CVS Health were worth $343,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CVS. Goldman Sachs Group Inc. boosted its stake in shares of CVS Health by 87.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator’s stock worth $672,598,000 after acquiring an additional 4,632,530 shares during the period. Dodge & Cox boosted its stake in shares of CVS Health by 4.8% in the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock worth $4,976,856,000 after acquiring an additional 3,353,223 shares during the period. Nuveen LLC bought a new position in shares of CVS Health in the first quarter worth about $204,421,000. Invesco Ltd. boosted its stake in shares of CVS Health by 13.2% in the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock worth $1,383,039,000 after acquiring an additional 2,375,764 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of CVS Health by 815.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 2,663,111 shares of the pharmacy operator’s stock worth $183,701,000 after acquiring an additional 2,372,121 shares during the period. Institutional investors own 80.66% of the company’s stock.

Insider Activity

In related news, Director Anne A. Finucane sold 7,500 shares of the firm’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 transaction of $532,650.00. Following the completion of the sale, the director directly owned 22,156 shares of the company’s stock, valued at approximately $1,573,519.12. This trade represents a 25.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.22% of the company’s stock.

CVS Health Price Performance

NYSE:CVS opened at $82.47 on Tuesday. The firm has a market capitalization of $104.59 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 0.91 and a beta of 0.60. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $82.88. The business has a 50 day simple moving average of $74.35 and a 200-day simple moving average of $68.25. 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 posted its quarterly earnings data 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. The business had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the company earned $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

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

Analyst Ratings Changes

Several research firms have weighed in on CVS. UBS Group upgraded CVS Health from a “neutral” rating to a “buy” rating and raised their price target for the company from $67.00 to $79.00 in a report on Monday, August 18th. Leerink Partners increased their target price on CVS Health from $86.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Wolfe Research increased their target price on CVS Health from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Zacks Research downgraded CVS Health from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Finally, Barclays increased their target price on CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $82.57.

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.