CVS Health Corporation $CVS Holdings Lowered by WASHINGTON TRUST Co

WASHINGTON TRUST Co lowered its stake in CVS Health Corporation (NYSE:CVS) by 7.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,686 shares of the pharmacy operator’s stock after selling 646 shares during the quarter. WASHINGTON TRUST Co’s holdings in CVS Health were worth $530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. ABN Amro Investment Solutions acquired a new position in shares of CVS Health in the second quarter worth about $890,000. Police & Firemen s Retirement System of New Jersey lifted its position in shares of CVS Health by 3.4% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 190,209 shares of the pharmacy operator’s stock valued at $13,121,000 after acquiring an additional 6,342 shares in the last quarter. Geode Capital Management LLC boosted its stake in CVS Health by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 28,635,233 shares of the pharmacy operator’s stock worth $1,966,083,000 after purchasing an additional 675,824 shares during the period. PNC Financial Services Group Inc. grew its position in CVS Health by 1.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 568,176 shares of the pharmacy operator’s stock worth $39,193,000 after purchasing an additional 8,407 shares in the last quarter. Finally, Tobam purchased a new stake in shares of CVS Health in the second quarter valued at $341,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Performance

CVS stock opened at $79.32 on Friday. The firm has a 50 day moving average of $77.61 and a two-hundred day moving average of $69.81. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $85.15. The company has a market capitalization of $100.69 billion, a price-to-earnings ratio of 208.74, a P/E/G ratio of 0.87 and a beta of 0.60. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.83.

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. The business had revenue of $102.87 billion during the quarter, compared to analyst estimates of $98.85 billion. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. CVS Health’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.09 EPS. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. As a group, equities analysts anticipate 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.4%. CVS Health’s dividend payout ratio is currently 700.00%.

Insider Buying and Selling at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the business’s stock in a transaction that occurred on 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 directly owned 22,156 shares in the company, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.22% of the company’s stock.

Analysts Set New Price Targets

CVS has been the topic of a number of research analyst reports. Wall Street Zen downgraded CVS Health from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Argus upped their target price on CVS Health from $80.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Robert W. Baird raised shares of CVS Health from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $71.00 to $82.00 in a research report on Thursday, August 14th. TD Cowen boosted their price objective on shares of CVS Health from $99.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Finally, Barclays lifted their target price on shares of CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.41.

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.