CVS Health Corporation $CVS Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. lowered its position in shares of CVS Health Corporation (NYSE:CVS) by 6.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,876 shares of the pharmacy operator’s stock after selling 1,491 shares during the quarter. Foster & Motley Inc.’s holdings in CVS Health were worth $1,578,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Ariston Services Group raised its holdings in shares of CVS Health by 13.1% during the second quarter. Ariston Services Group now owns 4,546 shares of the pharmacy operator’s stock valued at $314,000 after acquiring an additional 528 shares during the last quarter. Kanawha Capital Management LLC acquired a new stake in shares of CVS Health in the second quarter valued at approximately $216,000. Chevy Chase Trust Holdings LLC increased its holdings in shares of CVS Health by 0.9% in the second quarter. Chevy Chase Trust Holdings LLC now owns 681,685 shares of the pharmacy operator’s stock valued at $47,023,000 after purchasing an additional 6,368 shares during the last quarter. Praxis Investment Management Inc. increased its holdings in shares of CVS Health by 7.0% in the second quarter. Praxis Investment Management Inc. now owns 36,604 shares of the pharmacy operator’s stock valued at $2,525,000 after purchasing an additional 2,410 shares during the last quarter. Finally, Harbor Asset Planning Inc. acquired a new stake in shares of CVS Health in the second quarter valued at approximately $30,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on CVS shares. Robert W. Baird raised CVS Health from a “neutral” rating to an “outperform” rating and increased their price target for the company from $71.00 to $82.00 in a report on Thursday, August 14th. UBS Group raised CVS Health from a “neutral” rating to a “buy” rating and increased their price target for the company from $67.00 to $79.00 in a report on Monday, August 18th. The Goldman Sachs Group assumed coverage on CVS Health in a report on Tuesday. They issued a “buy” rating and a $91.00 price target for the company. Bernstein Bank lowered their price objective on 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. Finally, Leerink Partners lifted their target price on CVS Health from $86.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.57.

CVS Health Stock Up 1.6%

NYSE:CVS opened at $82.64 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The stock’s fifty day moving average is $74.00 and its two-hundred day moving average is $68.12. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $82.88. The stock has a market capitalization of $104.81 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 0.91 and a beta of 0.60.

CVS Health (NYSE:CVS) last released 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. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The company had revenue of $98.92 billion for the quarter, compared to analysts’ expectations of $94.87 billion. During the same period in the prior year, the firm earned $1.83 earnings per share. The firm’s revenue 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. Research analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

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 3.2%. The ex-dividend date is Thursday, October 23rd. CVS Health’s dividend payout ratio is 74.30%.

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 on 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.22% of the stock is owned by company insiders.

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.