Greenfield Savings Bank Sells 2,640 Shares of CVS Health Corporation $CVS

Greenfield Savings Bank cut its holdings in CVS Health Corporation (NYSE:CVS) by 15.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,593 shares of the pharmacy operator’s stock after selling 2,640 shares during the quarter. Greenfield Savings Bank’s holdings in CVS Health were worth $1,007,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CVS. Goldman Sachs Group Inc. grew its stake in shares of CVS Health by 87.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator’s stock worth $672,598,000 after purchasing an additional 4,632,530 shares during the period. Dodge & Cox grew its position in shares of CVS Health by 4.8% during the 1st quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock worth $4,976,856,000 after buying an additional 3,353,223 shares during the period. Nuveen LLC acquired a new stake in shares of CVS Health in the 1st quarter valued at approximately $204,421,000. Assenagon Asset Management S.A. boosted its stake in CVS Health by 310.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,523,824 shares of the pharmacy operator’s stock worth $238,739,000 after acquiring an additional 2,666,029 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in CVS Health by 13.2% during the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock valued at $1,383,039,000 after purchasing an additional 2,375,764 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 0.4%

NYSE CVS opened at $75.00 on Friday. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $75.55. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The stock’s 50 day moving average price is $67.11 and its two-hundred day moving average price is $66.32. The stock has a market capitalization of $95.12 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 0.82 and a beta of 0.62.

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

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 3.5%. CVS Health’s payout ratio is 74.30%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CVS. Morgan Stanley lifted their price target on shares of CVS Health from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. UBS Group raised CVS Health from a “neutral” rating to a “buy” rating and boosted their target price for the company from $67.00 to $79.00 in a research note on Monday, August 18th. Cowen reiterated a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Wall Street Zen lowered CVS Health from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $78.00 target price on shares of CVS Health in a report on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $77.89.

Insider Buying and Selling at CVS Health

In related 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 sale, the director owned 22,156 shares of the company’s stock, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.22% of the stock is owned by insiders.

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.