Penbrook Management LLC Decreases Stake in CVS Health Corporation $CVS

Penbrook Management LLC lowered its position in CVS Health Corporation (NYSE:CVS) by 5.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,275 shares of the pharmacy operator’s stock after selling 225 shares during the period. Penbrook Management LLC’s holdings in CVS Health were worth $295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. raised its holdings in shares of CVS Health by 10.9% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,682 shares of the pharmacy operator’s stock worth $117,000 after acquiring an additional 165 shares during the period. Essex Financial Services Inc. raised its holdings in shares of CVS Health by 0.8% during the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator’s stock worth $1,403,000 after acquiring an additional 166 shares during the period. Williams Financial LLC raised its holdings in shares of CVS Health by 2.5% during the 2nd quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator’s stock worth $478,000 after acquiring an additional 167 shares during the period. Hemington Wealth Management raised its holdings in shares of CVS Health by 33.7% during the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator’s stock worth $46,000 after acquiring an additional 172 shares during the period. Finally, Sumitomo Life Insurance Co. raised its holdings in shares of CVS Health by 1.0% during the 1st quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator’s stock worth $1,159,000 after acquiring an additional 174 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CVS. Wall Street Zen upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. Sanford C. Bernstein boosted their price objective on shares of CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a report on Friday, September 5th. Mizuho boosted their price objective on shares of CVS Health from $76.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Zacks Research lowered shares of CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Finally, Morgan Stanley boosted their price objective on shares of CVS Health from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $79.80.

Insiders Place Their Bets

In related news, Director Anne A. Finucane sold 7,500 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 22,156 shares in the company, valued at $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is currently owned by insiders.

CVS Health Stock Performance

Shares of CVS Health stock opened at $78.50 on Tuesday. CVS Health Corporation has a one year low of $43.56 and a one year high of $79.68. The company has a market cap of $99.56 billion, a PE ratio of 21.93, a P/E/G ratio of 0.86 and a beta of 0.60. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The business has a 50-day simple moving average of $72.63 and a 200-day simple moving average of $67.75.

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

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be paid a dividend of $0.665 per share. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 annualized dividend and a yield of 3.4%. CVS Health’s payout ratio is presently 74.30%.

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.