Grandview Asset Management LLC Has $372,000 Stake in CVS Health Corporation $CVS

Grandview Asset Management LLC lessened its holdings in shares of CVS Health Corporation (NYSE:CVS) by 15.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,400 shares of the pharmacy operator’s stock after selling 1,000 shares during the period. Grandview Asset Management LLC’s holdings in CVS Health were worth $372,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Jennison Associates LLC increased its holdings in CVS Health by 503.8% in the first quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator’s stock worth $128,477,000 after purchasing an additional 1,582,257 shares in the last quarter. Cerity Partners LLC raised its holdings in CVS Health by 25.0% in the 1st 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 last quarter. Bank of New York Mellon Corp grew its position in shares of 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 valued at $608,481,000 after purchasing an additional 183,813 shares in the last quarter. Brandywine Global Investment Management LLC lifted its stake 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 worth $231,808,000 after purchasing an additional 572,533 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in CVS Health by 122.5% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 565,152 shares of the pharmacy operator’s stock valued at $38,289,000 after buying an additional 311,098 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Performance

Shares of CVS opened at $75.80 on Friday. The stock has a market cap of $96.14 billion, a P/E ratio of 21.17, a PEG ratio of 0.84 and a beta of 0.62. The company has a 50-day moving average of $69.13 and a two-hundred day moving average of $66.99. 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 12-month low of $43.56 and a 12-month high of $77.34.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The company had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same quarter last year, the firm posted $1.83 earnings per share. The company’s quarterly 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. As a group, research analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.5%. CVS Health’s payout ratio is presently 74.30%.

Insider Activity at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the 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 sale, 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 can be accessed 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 recent research reports. UBS Group raised shares of CVS Health from a “neutral” rating to a “buy” rating and upped their target price for the stock from $67.00 to $79.00 in a research note on Monday, August 18th. Zacks Research cut CVS Health from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Barclays lifted their price objective on shares of CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, September 4th. Bernstein Bank lowered their target price on CVS Health from $78.00 to $72.00 and set a “market perform” rating for the company in a report on Wednesday, July 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $78.00 target price on shares of CVS Health in a research report on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.