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Allspring Global Investments Holdings LLC Sells 34,482 Shares of CVS Health Corporation $CVS

CVS Health logo with Medical background

Key Points

  • Allspring Global Investments Holdings LLC reduced its stake in CVS Health Corporation by 13.8%, selling 34,482 shares during the second quarter, leading to ownership of 216,030 shares valued at approximately $15.03 million.
  • CVS Health reported strong earnings with $1.81 EPS, exceeding estimates, and a revenue of $98.92 billion for the last quarter, marking an 8.4% year-over-year increase.
  • The company announced a quarterly dividend of $0.665 per share, with an annualized yield of 3.2%, set to be paid on November 3rd.
  • Five stocks we like better than CVS Health.

Allspring Global Investments Holdings LLC trimmed its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 13.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 216,030 shares of the pharmacy operator's stock after selling 34,482 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in CVS Health were worth $15,031,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Bell Investment Advisors Inc raised its stake in shares of 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 acquiring an additional 248 shares during the last quarter. Roxbury Financial LLC lifted its position in shares of CVS Health by 78.3% during the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 202 shares in the last quarter. ORG Partners LLC raised its position in CVS Health by 418.9% in the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 377 shares during the last quarter. Saudi Central Bank bought a new position in CVS Health in the 1st quarter valued at $34,000. Finally, Livelsberger Financial Advisory acquired a new position in CVS Health during the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Stock Performance

Shares of CVS stock opened at $82.64 on Friday. CVS Health Corporation has a one year low of $43.56 and a one year high of $82.88. The business's 50 day simple moving average is $74.00 and its 200 day simple moving average is $68.12. The stock has a market capitalization of $104.81 billion, a PE ratio of 23.08, a PEG ratio of 0.90 and a beta of 0.60. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping the consensus estimate of $1.46 by $0.35. The business 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, research analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health's dividend payout ratio (DPR) is 74.30%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research report on Monday, August 4th. Cantor Fitzgerald reiterated an "overweight" rating and set a $78.00 price objective on shares of CVS Health in a research note on Tuesday, August 26th. Weiss Ratings reiterated a "hold (c)" rating on shares of CVS Health in a research note on Tuesday. Wells Fargo & Company raised their price objective on shares of CVS Health from $84.00 to $103.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 7th. Finally, Barclays boosted their target price on shares of CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a research report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $82.57.

Read Our Latest Stock Report on CVS Health

Insider Buying and Selling at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction on Wednesday, August 20th. The stock was 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 $1,573,519.12. This trade represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.22% of the stock is owned by insiders.

CVS Health Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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