Grimes & Company Inc. Increases Stock Position in CVS Health Corporation $CVS

Grimes & Company Inc. grew its stake in CVS Health Corporation (NYSE:CVS) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,537 shares of the pharmacy operator’s stock after buying an additional 519 shares during the period. Grimes & Company Inc.’s holdings in CVS Health were worth $658,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Jennison Associates LLC increased its stake 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 valued at $128,477,000 after acquiring an additional 1,582,257 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. lifted its stake in CVS Health by 1.6% during the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 409,735 shares of the pharmacy operator’s stock worth $28,264,000 after purchasing an additional 6,615 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of 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 purchasing an additional 129,535 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of CVS Health by 2.1% during the 1st 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 during the last quarter. Finally, Brandywine Global Investment Management LLC raised its holdings in shares of CVS Health by 20.1% during the 1st quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator’s stock valued at $231,808,000 after buying an additional 572,533 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insiders Place Their Bets

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the firm’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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.22% of the stock is currently owned by insiders.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $76.86 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The company has a market cap of $97.48 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 0.85 and a beta of 0.60. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $79.20. The company has a 50-day moving average price of $71.05 and a 200-day moving average price of $67.39.

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 return on equity of 10.51% and a net margin of 1.17%.The business had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. During the same quarter in the prior year, the company posted $1.83 EPS. CVS Health’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, equities analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 3.5%. CVS Health’s payout ratio is currently 74.30%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CVS shares. Robert W. Baird raised CVS Health from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $71.00 to $82.00 in a research note on Thursday, August 14th. Morgan Stanley upped their price objective on shares of CVS Health from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Wolfe Research lifted their target price on shares of CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Zacks Research lowered shares of CVS Health from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $78.00 price objective on shares of CVS Health in a report on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.25.

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.