CVS Health Corporation $CVS Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. lessened its holdings in CVS Health Corporation (NYSE:CVS) by 4.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,612 shares of the pharmacy operator’s stock after selling 1,815 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in CVS Health were worth $2,594,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jennison Associates LLC raised its holdings in shares of CVS Health by 503.8% in the 1st quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator’s stock valued at $128,477,000 after buying an additional 1,582,257 shares during the period. Cerity Partners LLC increased its holdings in CVS Health by 25.0% during the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator’s stock worth $43,920,000 after purchasing an additional 129,535 shares during the period. Bank of New York Mellon Corp increased its holdings in CVS Health by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator’s stock worth $608,481,000 after purchasing an additional 183,813 shares during the period. Brandywine Global Investment Management LLC increased its holdings in CVS Health by 20.1% during the 1st quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator’s stock worth $231,808,000 after purchasing an additional 572,533 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in CVS Health by 122.5% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 565,152 shares of the pharmacy operator’s stock worth $38,289,000 after purchasing an additional 311,098 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insiders Place Their Bets

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 value of $532,650.00. Following the completion of the transaction, the director directly owned 22,156 shares of the company’s stock, valued at $1,573,519.12. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.22% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on CVS. Cowen restated a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Jefferies Financial Group increased their price objective on CVS Health from $74.00 to $80.00 and gave the company a “buy” rating in a report on Monday, June 30th. Zacks Research downgraded CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Bernstein Bank decreased their target price on CVS Health from $78.00 to $72.00 and set a “market perform” rating for the company in a research report on Wednesday, July 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $78.00 target price on shares of CVS Health in a research report on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $77.89.

CVS Health Stock Performance

Shares of CVS stock opened at $75.00 on Monday. The company has a market cap of $95.12 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 0.83 and a beta of 0.62. The stock has a 50 day simple moving average of $67.11 and a 200-day simple moving average of $66.33. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $75.55. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

CVS Health (NYSE:CVS) last issued 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. The business had revenue of $98.92 billion during the quarter, compared to the consensus estimate 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 in the prior year, the business posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, July 22nd. 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.