Blume Capital Management Inc. Has $3.50 Million Stock Holdings in CVS Health Corporation $CVS

Blume Capital Management Inc. trimmed its position in CVS Health Corporation (NYSE:CVS) by 24.9% during the second quarter, HoldingsChannel.com reports. The fund owned 50,769 shares of the pharmacy operator’s stock after selling 16,865 shares during the quarter. Blume Capital Management Inc.’s holdings in CVS Health were worth $3,502,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVS. Harbor Asset Planning Inc. acquired a new position in shares of CVS Health during the 2nd quarter worth $30,000. Bell Investment Advisors Inc boosted its stake in CVS Health by 119.8% in the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock valued at $31,000 after buying an additional 248 shares in the last quarter. Roxbury Financial LLC grew its position in CVS Health by 78.3% in the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 202 shares during the last quarter. ORG Partners LLC raised its stake in CVS Health by 418.9% during the second quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 377 shares in the last quarter. Finally, Saudi Central Bank bought a new position in shares of CVS Health in the first quarter worth about $34,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Performance

Shares of CVS opened at $83.06 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The firm’s fifty day simple moving average is $74.70 and its two-hundred day simple moving average is $68.36. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $83.52. The stock has a market capitalization of $105.34 billion, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 0.91 and a beta of 0.60.

CVS Health (NYSE:CVS) last posted its quarterly earnings data 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. 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 period last year, the company posted $1.83 EPS. The business’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. As a group, analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be paid a $0.665 dividend. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.2%. CVS Health’s payout ratio is currently 74.30%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CVS shares. Bernstein Bank lowered their price objective on shares of CVS Health from $78.00 to $72.00 and set a “market perform” rating for the company in a research report on Wednesday, July 16th. Sanford C. Bernstein increased their price target on CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a research note on Friday, September 5th. Leerink Partners boosted their price objective on CVS Health from $86.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Cowen reiterated a “buy” rating on shares of CVS Health in a research report on Monday, August 4th. Finally, UBS Group upgraded CVS Health from a “neutral” rating to a “buy” rating and increased their price objective for the company from $67.00 to $79.00 in a report on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $82.57.

Insider Transactions at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the firm’s stock in a transaction 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 completion of the sale, the director directly owned 22,156 shares in the company, valued at approximately $1,573,519.12. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.22% of the stock is currently owned by corporate insiders.

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.