Northwestern Mutual Wealth Management Co. Has $8.58 Million Stake in CVS Health Corporation $CVS

Northwestern Mutual Wealth Management Co. reduced its stake in CVS Health Corporation (NYSE:CVS) by 45.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 124,448 shares of the pharmacy operator’s stock after selling 104,876 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in CVS Health were worth $8,584,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FineMark National Bank & Trust lifted its stake in shares of CVS Health by 1.7% in the second quarter. FineMark National Bank & Trust now owns 9,576 shares of the pharmacy operator’s stock worth $661,000 after buying an additional 157 shares during the last quarter. Hazlett Burt & Watson Inc. raised its holdings in CVS Health by 10.9% in 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. Williams Financial LLC lifted its position in 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 last quarter. Hemington Wealth Management boosted its holdings in CVS Health by 33.7% during the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator’s stock valued at $46,000 after acquiring an additional 172 shares during the period. Finally, Sunpointe LLC grew its position in shares of CVS Health by 4.0% in the second quarter. Sunpointe LLC now owns 4,760 shares of the pharmacy operator’s stock valued at $328,000 after purchasing an additional 185 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on CVS shares. Royal Bank Of Canada increased their target price on CVS Health from $81.00 to $93.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. TD Cowen upped their price target on CVS Health from $99.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Jefferies Financial Group raised their price objective on shares of CVS Health from $92.00 to $98.00 in a research note on Thursday, October 30th. Baird R W raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. Finally, Wall Street Zen downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.41.

CVS Health Stock Down 1.7%

Shares of NYSE CVS opened at $79.01 on Tuesday. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $85.15. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.62 and a current ratio of 0.83. The business has a fifty day moving average of $78.71 and a two-hundred day moving average of $70.97. The stock has a market cap of $100.30 billion, a PE ratio of 207.93, a PEG ratio of 0.87 and a beta of 0.60.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.24. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The business had revenue of $102.87 billion during the quarter, compared to analysts’ expectations of $98.85 billion. During the same quarter last year, the company posted $1.09 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. As a group, equities research 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 was paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd were paid a $0.665 dividend. 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 payout ratio is 700.00%.

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.