CVS Health Corporation $CVS Shares Sold by Community Trust & Investment Co.

Community Trust & Investment Co. reduced its stake in CVS Health Corporation (NYSE:CVS) by 1.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 261,518 shares of the pharmacy operator’s stock after selling 4,435 shares during the period. Community Trust & Investment Co.’s holdings in CVS Health were worth $18,040,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bell Investment Advisors Inc grew its holdings in CVS Health by 119.8% in the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock valued at $31,000 after purchasing an additional 248 shares during the last quarter. Roxbury Financial LLC lifted its holdings in shares of CVS Health by 78.3% during the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 202 shares in the last quarter. Saudi Central Bank acquired a new position in shares of CVS Health during the first quarter worth $34,000. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health in the 2nd quarter valued at about $35,000. Finally, Costello Asset Management INC raised its position in shares of CVS Health by 281.3% during the 1st quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator’s stock worth $39,000 after purchasing an additional 422 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Trading Up 0.7%

NYSE:CVS opened at $74.00 on Thursday. 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 firm has a market capitalization of $93.86 billion, a P/E ratio of 20.67, a P/E/G ratio of 0.81 and a beta of 0.62. The company has a fifty day moving average of $67.53 and a 200 day moving average of $66.48. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $75.55.

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

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be given a dividend of $0.665 per share. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.6%. CVS Health’s dividend payout ratio is currently 74.30%.

Insider Activity at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.22% of the company’s stock.

Analysts Set New Price Targets

CVS has been the topic of several analyst reports. Bernstein Bank dropped their target price on shares of CVS Health from $78.00 to $72.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 16th. UBS Group raised shares of CVS Health from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $67.00 to $79.00 in a research note on Monday, August 18th. Jefferies Financial Group upped their price target on CVS Health from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, June 30th. Wall Street Zen cut shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, Cowen restated a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average price target of $77.89.

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.