CVS Health Corporation $CVS Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. lowered its stake in shares of CVS Health Corporation (NYSE:CVS) by 5.0% during the second quarter, Holdings Channel reports. The fund owned 22,391 shares of the pharmacy operator’s stock after selling 1,180 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in CVS Health were worth $1,545,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in CVS Health by 0.8% during the first quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator’s stock worth $8,017,223,000 after buying an additional 969,027 shares during the period. Dodge & Cox lifted its position in CVS Health by 4.8% during the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock worth $4,976,856,000 after buying an additional 3,353,223 shares during the period. Invesco Ltd. lifted its position in CVS Health by 13.2% during the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock worth $1,383,039,000 after buying an additional 2,375,764 shares during the period. Price T Rowe Associates Inc. MD lifted its position in CVS Health by 14.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator’s stock worth $1,037,205,000 after buying an additional 1,942,886 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in CVS Health by 5.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator’s stock worth $924,643,000 after buying an additional 728,924 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of research reports. Weiss Ratings restated a “hold (c-)” rating on shares of CVS Health in a report on Saturday, September 27th. Wall Street Zen raised CVS Health from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. UBS Group raised CVS Health from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $67.00 to $79.00 in a research report on Monday, August 18th. Wolfe Research boosted their price target on CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $78.00 price target 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 four have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $79.80.

CVS Health Price Performance

Shares of NYSE CVS opened at $78.50 on Tuesday. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $79.68. The business has a 50 day moving average price of $72.63 and a two-hundred day moving average price of $67.75. 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 cap of $99.56 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 0.86 and a beta of 0.60.

CVS Health (NYSE:CVS) last issued its quarterly earnings data 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. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. During the same quarter last year, the firm earned $1.83 EPS. CVS Health’s quarterly revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Sell-side 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 announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be given a $0.665 dividend. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.4%. CVS Health’s dividend payout ratio (DPR) is presently 74.30%.

Insider Activity at CVS Health

In other 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 completion of the transaction, the director owned 22,156 shares in the company, 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 the SEC website. Insiders own 1.22% of the company’s stock.

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.