Blue Trust Inc. Cuts Stock Position in CVS Health Corporation $CVS

Blue Trust Inc. trimmed its stake in shares of CVS Health Corporation (NYSE:CVS) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,831 shares of the pharmacy operator’s stock after selling 290 shares during the period. Blue Trust Inc.’s holdings in CVS Health were worth $678,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of CVS Health by 198.5% during the first quarter. GAMMA Investing LLC now owns 18,669 shares of the pharmacy operator’s stock valued at $1,265,000 after acquiring an additional 12,415 shares during the last quarter. Krilogy Financial LLC purchased a new stake in shares of CVS Health during the first quarter worth approximately $1,046,000. CVA Family Office LLC raised its stake in CVS Health by 43.4% in the 1st quarter. CVA Family Office LLC now owns 5,336 shares of the pharmacy operator’s stock valued at $362,000 after purchasing an additional 1,614 shares during the last quarter. Tritonpoint Wealth LLC acquired a new stake in CVS Health during the 1st quarter worth $256,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of CVS Health during the first quarter worth $115,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. UBS Group upgraded shares of CVS Health from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $67.00 to $79.00 in a research report on Monday, August 18th. Wolfe Research boosted their target price on CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Robert W. Baird upgraded CVS Health from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $71.00 to $82.00 in a research report on Thursday, August 14th. Sanford C. Bernstein upped their target price on CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a report on Friday, September 5th. Finally, Baird R W upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $79.80.

Insider Activity at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction 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 sale, the director directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.22% of the stock is currently owned by corporate insiders.

CVS Health Stock Performance

NYSE CVS opened at $77.89 on Monday. The stock has a fifty day simple moving average of $72.28 and a 200-day simple moving average of $67.67. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The stock has a market cap of $98.79 billion, a PE ratio of 21.76, a P/E/G ratio of 0.86 and a beta of 0.60. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $79.20.

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

CVS Health Dividend Announcement

The company also recently declared 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. This represents a $2.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Thursday, October 23rd. CVS Health’s dividend payout ratio is 74.30%.

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.