Franklin Resources Inc. Sells 47,430 Shares of CVS Health Corporation $CVS

Franklin Resources Inc. lowered its stake in shares of CVS Health Corporation (NYSE:CVS) by 0.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,654,613 shares of the pharmacy operator’s stock after selling 47,430 shares during the period. Franklin Resources Inc. owned approximately 0.60% of CVS Health worth $528,015,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Cantor Fitzgerald Investment Advisors L.P. grew its position in CVS Health by 1.6% in the 2nd 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 period. Brandywine Global Investment Management LLC grew its holdings in shares of 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 acquiring an additional 572,533 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position 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 acquiring an additional 311,098 shares during the last quarter. Holderness Investments Co. bought a new position in CVS Health in the first quarter valued at about $300,000. Finally, Red Mountain Financial LLC purchased a new position in CVS Health in the second quarter worth about $293,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Up 2.5%

NYSE CVS opened at $77.92 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.83. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $85.15. The stock’s 50 day moving average is $78.12 and its 200 day moving average is $70.25. The stock has a market cap of $98.91 billion, a PE ratio of 205.06, a P/E/G ratio of 0.87 and a beta of 0.60.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.24. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The firm had revenue of $102.87 billion for the quarter, compared to analysts’ expectations of $98.85 billion. During the same quarter last year, the business posted $1.09 earnings per share. The company’s revenue for the quarter 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. Research analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd were given a dividend of $0.665 per share. The ex-dividend date was Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.4%. CVS Health’s dividend payout ratio (DPR) is presently 700.00%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVS. The Goldman Sachs Group started coverage on shares of CVS Health in a research report on Tuesday, October 14th. They set a “buy” rating and a $91.00 target price for the company. Wells Fargo & Company cut their price objective on shares of CVS Health from $103.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, November 13th. Zacks Research cut CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Truist Financial reissued a “buy” rating and set a $95.00 price target (up previously from $92.00) on shares of CVS Health in a report on Thursday, October 30th. Finally, Leerink Partners raised their price objective on CVS Health from $86.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $89.41.

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.