Huntington National Bank Reduces Stock Position in CVS Health Corporation $CVS

Huntington National Bank cut its stake in CVS Health Corporation (NYSE:CVS) by 4.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,170 shares of the pharmacy operator’s stock after selling 1,155 shares during the period. Huntington National Bank’s holdings in CVS Health were worth $1,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in CVS. Envestnet Asset Management Inc. raised its position in CVS Health by 21.8% in the first quarter. Envestnet Asset Management Inc. now owns 1,863,078 shares of the pharmacy operator’s stock valued at $126,224,000 after purchasing an additional 333,364 shares during the period. Callan Capital LLC purchased a new stake in CVS Health in the first quarter valued at approximately $260,000. Valeo Financial Advisors LLC raised its position in CVS Health by 5.3% in the first quarter. Valeo Financial Advisors LLC now owns 30,489 shares of the pharmacy operator’s stock valued at $2,066,000 after purchasing an additional 1,532 shares during the period. Personal CFO Solutions LLC raised its position in CVS Health by 11.1% in the first quarter. Personal CFO Solutions LLC now owns 11,136 shares of the pharmacy operator’s stock valued at $754,000 after purchasing an additional 1,116 shares during the period. Finally, Greenleaf Trust raised its position in CVS Health by 17.7% in the first quarter. Greenleaf Trust now owns 19,949 shares of the pharmacy operator’s stock valued at $1,352,000 after purchasing an additional 3,000 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVS has been the topic of several analyst reports. Baird R W upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Barclays increased their price objective on CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. TD Cowen increased their price objective on CVS Health from $99.00 to $100.00 and gave the company a “buy” rating in a research note on Monday. Cantor Fitzgerald increased their price objective on CVS Health from $78.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Mizuho increased their target price on CVS Health from $76.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.82.

Insider Activity

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the transaction, the director owned 22,156 shares of the company’s stock, valued at approximately $1,573,519.12. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.22% of the company’s stock.

CVS Health Stock Performance

NYSE:CVS opened at $78.71 on Thursday. The firm has a market capitalization of $99.92 billion, a PE ratio of 207.14, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The business’s fifty day moving average price is $76.90 and its 200 day moving average price is $69.27. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.62. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $85.15.

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

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, October 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.4%. CVS Health’s dividend payout ratio (DPR) is presently 700.00%.

CVS Health 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.