Legal & General Group Plc Reduces Stake in CVS Health Corporation $CVS

Legal & General Group Plc lessened its position in shares of CVS Health Corporation (NYSE:CVS) by 4.2% in the second quarter, Holdings Channel reports. The fund owned 8,983,042 shares of the pharmacy operator’s stock after selling 396,118 shares during the quarter. Legal & General Group Plc’s holdings in CVS Health were worth $619,650,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich grew its position in CVS Health by 242.4% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,904 shares of the pharmacy operator’s stock valued at $129,000 after buying an additional 1,348 shares during the period. Wedbush Securities Inc. boosted its stake in shares of CVS Health by 2.3% during the 1st quarter. Wedbush Securities Inc. now owns 18,728 shares of the pharmacy operator’s stock worth $1,269,000 after acquiring an additional 425 shares during the last quarter. Pinnacle Associates Ltd. grew its position in shares of CVS Health by 0.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 64,293 shares of the pharmacy operator’s stock valued at $4,356,000 after acquiring an additional 388 shares during the period. One Wealth Advisors LLC purchased a new stake in shares of CVS Health in the 1st quarter worth $234,000. Finally, Tempus Wealth Planning LLC bought a new position in CVS Health in the 1st quarter worth $215,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 2.5%

NYSE CVS opened at $77.92 on Friday. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $85.15. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.83. The stock has a market cap of $98.91 billion, a PE ratio of 205.06, a P/E/G ratio of 0.87 and a beta of 0.60. The stock’s 50 day moving average is $78.12 and its 200 day moving average is $70.25.

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

CVS Health Dividend Announcement

The business 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. This represents a $2.66 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Thursday, October 23rd. CVS Health’s dividend payout ratio is 700.00%.

Analyst Ratings Changes

A number of brokerages have commented on CVS. Mizuho upped their price target on CVS Health from $76.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Evercore ISI boosted their price objective on CVS Health from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Royal Bank Of Canada raised their target price on shares of CVS Health from $81.00 to $93.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CVS Health in a research report on Monday. Finally, Cantor Fitzgerald increased their price objective on shares of CVS Health from $78.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.41.

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.