AMG National Trust Bank Buys 1,258 Shares of CVS Health Corporation $CVS

AMG National Trust Bank increased its stake in CVS Health Corporation (NYSE:CVS) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,770 shares of the pharmacy operator’s stock after acquiring an additional 1,258 shares during the quarter. AMG National Trust Bank’s holdings in CVS Health were worth $7,641,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Jennison Associates LLC increased its stake in CVS Health by 503.8% during the 1st quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator’s stock valued at $128,477,000 after purchasing an additional 1,582,257 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. increased its stake in CVS Health by 1.6% during the 2nd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 409,735 shares of the pharmacy operator’s stock valued at $28,264,000 after purchasing an additional 6,615 shares in the last quarter. Cerity Partners LLC increased its stake in CVS Health by 25.0% during the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator’s stock valued at $43,920,000 after purchasing an additional 129,535 shares in the last quarter. Bank of New York Mellon Corp increased its stake in 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 in the last quarter. Finally, Brandywine Global Investment Management LLC increased its stake in 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 purchasing an additional 572,533 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 4.8%

Shares of CVS Health stock opened at $76.70 on Friday. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $85.15. The stock’s 50-day simple moving average is $76.35 and its 200 day simple moving average is $68.98. The stock has a market capitalization of $97.28 billion, a P/E ratio of 201.84, a P/E/G ratio of 0.87 and a beta of 0.60. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.62 and a current ratio of 0.83.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.24. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.The business had revenue of $102.87 billion for the quarter, compared to analysts’ expectations of $98.85 billion. During the same period in the previous year, the business posted $1.09 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. As a group, research analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

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

Analysts Set New Price Targets

CVS has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price target on shares of CVS Health from $80.00 to $92.00 in a research note on Wednesday, October 15th. The Goldman Sachs Group initiated coverage on shares of CVS Health in a report on Tuesday, October 14th. They set a “buy” rating and a $91.00 price objective on the stock. Barclays lifted their price objective on shares of CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. Cantor Fitzgerald lifted their price objective on shares of CVS Health from $78.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Leerink Partners lifted their price objective on shares of CVS Health from $86.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.33.

Insider Buying and Selling at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the transaction, the director directly owned 22,156 shares in the company, valued at approximately $1,573,519.12. This represents 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 accessible through the SEC website. Company insiders own 1.22% of the company’s stock.

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.