CVS Health Corporation $CVS Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. trimmed its position in CVS Health Corporation (NYSE:CVS) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 76,263 shares of the pharmacy operator’s stock after selling 493 shares during the period. Hartford Investment Management Co.’s holdings in CVS Health were worth $5,261,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Jennison Associates LLC increased its holdings in shares of CVS Health by 503.8% during the 1st quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator’s stock worth $128,477,000 after buying an additional 1,582,257 shares during the last quarter. Cerity Partners LLC grew its position in CVS Health by 25.0% in the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator’s stock worth $43,920,000 after acquiring an additional 129,535 shares during the period. Bank of New York Mellon Corp increased its stake in CVS Health by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator’s stock worth $608,481,000 after acquiring an additional 183,813 shares during the last quarter. Brandywine Global Investment Management LLC raised its position in CVS Health by 20.1% in the first quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator’s stock valued at $231,808,000 after purchasing an additional 572,533 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in shares of CVS Health by 122.5% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 565,152 shares of the pharmacy operator’s stock valued at $38,289,000 after purchasing an additional 311,098 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Transactions at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health 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 sale, the director owned 22,156 shares of the company’s stock, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.22% of the stock is owned by corporate insiders.

CVS Health Stock Down 2.2%

CVS stock opened at $74.71 on Friday. The stock has a market cap of $94.75 billion, a P/E ratio of 20.87, a PEG ratio of 0.84 and a beta of 0.62. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $77.34. The company’s 50 day moving average is $68.85 and its two-hundred day moving average is $66.90.

CVS Health (NYSE:CVS) last posted its 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 business had revenue of $98.92 billion for the quarter, compared to analysts’ expectations of $94.87 billion. During the same quarter in the previous year, the firm earned $1.83 earnings per share. The business’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 expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders 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 dividend yield of 3.6%. The ex-dividend date is Thursday, October 23rd. CVS Health’s payout ratio is 74.30%.

Analyst Ratings Changes

CVS has been the subject of a number of recent analyst reports. Zacks Research cut shares of CVS Health from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Jefferies Financial Group lifted their target price on shares of CVS Health from $74.00 to $80.00 and gave the company a “buy” rating in a report on Monday, June 30th. UBS Group upgraded CVS Health from a “neutral” rating to a “buy” rating and upped their price target for the stock from $67.00 to $79.00 in a research note on Monday, August 18th. Cowen reaffirmed a “buy” rating on shares of CVS Health in a research note on Monday, August 4th. Finally, Robert W. Baird raised CVS Health from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $71.00 to $82.00 in a research note on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.25.

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.