CVS Health Corporation $CVS Holdings Reduced by NBT Bank N A NY

NBT Bank N A NY cut its stake in CVS Health Corporation (NYSE:CVS) by 6.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,874 shares of the pharmacy operator’s stock after selling 3,001 shares during the period. NBT Bank N A NY’s holdings in CVS Health were worth $2,888,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CVS. Wedmont Private Capital boosted its holdings in shares of CVS Health by 18.2% in the first quarter. Wedmont Private Capital now owns 11,110 shares of the pharmacy operator’s stock valued at $772,000 after acquiring an additional 1,707 shares in the last quarter. Miracle Mile Advisors LLC lifted its stake in CVS Health by 17.3% during the first quarter. Miracle Mile Advisors LLC now owns 10,474 shares of the pharmacy operator’s stock valued at $710,000 after purchasing an additional 1,543 shares during the last quarter. Park Avenue Securities LLC lifted its stake in CVS Health by 5.0% during the first quarter. Park Avenue Securities LLC now owns 25,890 shares of the pharmacy operator’s stock valued at $1,754,000 after purchasing an additional 1,244 shares during the last quarter. Baldwin Wealth Partners LLC MA acquired a new stake in CVS Health during the first quarter valued at approximately $247,000. Finally, Daymark Wealth Partners LLC lifted its stake in CVS Health by 24.2% during the first quarter. Daymark Wealth Partners LLC now owns 32,967 shares of the pharmacy operator’s stock valued at $2,233,000 after purchasing an additional 6,430 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Trading Up 0.4%

Shares of CVS stock opened at $77.17 on Wednesday. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $79.20. The company has a market capitalization of $97.88 billion, a P/E ratio of 21.56, a P/E/G ratio of 0.85 and a beta of 0.60. The firm has a 50-day moving average price of $71.39 and a 200 day moving average price of $67.46. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74.

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

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is currently 74.30%.

Wall Street Analyst Weigh In

Several analysts recently commented on CVS shares. Jefferies Financial Group increased their target price on shares of CVS Health from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, June 30th. Bernstein Bank reduced their price target on shares of 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. Robert W. Baird upgraded shares of CVS Health from a “neutral” rating to an “outperform” rating and upped their price target for the company from $71.00 to $82.00 in a research report on Thursday, August 14th. Morgan Stanley upped their price target on shares of CVS Health from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Wolfe Research increased their target price on shares of CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.20.

Insiders Place Their Bets

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 shares were 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 approximately $1,573,519.12. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.22% of the company’s stock.

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.