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

Harbour Investments Inc. trimmed its stake in CVS Health Corporation (NYSE:CVS) by 15.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,966 shares of the pharmacy operator’s stock after selling 911 shares during the quarter. Harbour Investments Inc.’s holdings in CVS Health were worth $343,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CVS. Goldman Sachs Group Inc. boosted its holdings in 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 in the last quarter. Dodge & Cox boosted its holdings in 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 in the last quarter. Nuveen LLC bought a new stake in CVS Health in the first quarter worth $204,421,000. Invesco Ltd. lifted its holdings in shares of 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 in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of CVS Health by 815.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 2,663,111 shares of the pharmacy operator’s stock valued at $183,701,000 after purchasing an additional 2,372,121 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Down 0.1%

CVS Health stock opened at $82.47 on Tuesday. The stock has a market cap of $104.59 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 0.91 and a beta of 0.60. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. CVS Health Corporation has a one year low of $43.56 and a one year high of $82.88. The stock has a fifty day moving average of $74.35 and a 200 day moving average of $68.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 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 analysts’ expectations of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, sell-side analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be given a $0.665 dividend. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.2%. CVS Health’s dividend payout ratio is presently 74.30%.

Analysts Set New Price Targets

CVS has been the topic of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $78.00 price target on shares of CVS Health in a report on Tuesday, August 26th. Bernstein Bank lowered their price target on CVS Health from $78.00 to $72.00 and set a “market perform” rating on the stock in a report on Wednesday, July 16th. Morgan Stanley upped their price target on CVS Health from $82.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Truist Financial set a $92.00 price target on CVS Health in a report on Tuesday, October 14th. Finally, UBS Group raised CVS Health from a “neutral” rating to a “buy” rating and upped their price target for the company from $67.00 to $79.00 in a report on Monday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $82.57.

Insider Buying and Selling

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the company’s 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 completion of the sale, the director owned 22,156 shares in the company, valued at $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.22% of the stock is currently 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.