MMA Asset Management LLC Reduces Stock Position in CVS Health Corporation $CVS

MMA Asset Management LLC decreased its holdings in CVS Health Corporation (NYSE:CVS) by 9.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,333 shares of the pharmacy operator’s stock after selling 986 shares during the period. MMA Asset Management LLC’s holdings in CVS Health were worth $644,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Versor Investments LP grew its holdings in shares of CVS Health by 168.4% in the second quarter. Versor Investments LP now owns 54,493 shares of the pharmacy operator’s stock worth $3,759,000 after purchasing an additional 34,193 shares during the last quarter. Sebold Capital Management Inc. purchased a new stake in CVS Health in the 2nd quarter valued at about $321,000. GHP Investment Advisors Inc. grew its stake in CVS Health by 11.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 63,311 shares of the pharmacy operator’s stock worth $4,367,000 after acquiring an additional 6,476 shares in the last quarter. Syverson Strege & Co purchased a new position in shares of CVS Health during the second quarter worth approximately $450,000. Finally, AlphaStar Capital Management LLC bought a new stake in shares of CVS Health during the second quarter valued at approximately $385,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Bernstein Bank dropped their price objective on CVS Health from $78.00 to $72.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 16th. Wells Fargo & Company increased their price target on CVS Health from $84.00 to $103.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. UBS Group lifted their price objective on CVS Health from $79.00 to $96.00 and gave the company a “buy” rating in a report on Friday, October 24th. Piper Sandler upped their price objective on shares of CVS Health from $81.00 to $99.00 in a research note on Friday. Finally, Wolfe Research raised their target price on shares of CVS Health from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Two investment 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.91.

Insider Buying and Selling at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the sale, the director owned 22,156 shares in the company, valued at approximately $1,573,519.12. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.22% of the stock is currently owned by corporate insiders.

CVS Health Trading Up 1.9%

NYSE CVS opened at $78.13 on Monday. The firm has a 50 day simple moving average of $76.49 and a 200-day simple moving average of $69.04. The firm has a market cap of $99.18 billion, a price-to-earnings ratio of 205.61, a PEG ratio of 0.87 and a beta of 0.60. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.62 and a current ratio of 0.83. CVS Health Corporation has a one year low of $43.56 and a one year high of $85.15.

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

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is 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%.

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.