AlTi Global Inc. Has $5.60 Million Stock Position in CVS Health Corporation $CVS

Key Points

• AlTi Global Inc. reduced its stake in CVS Health Corporation by 36.1% in the first quarter, selling 46,592 shares and holding 82,650 shares valued at approximately $5.6 million.
• More than 80% of CVS Health’s stock is owned by institutional investors, including significant increases by Jennison Associates LLC (up 503.8%) and Brandywine Global Investment Management LLC (up 20.1%) in the first quarter.
• CVS Health reported a $1.81 EPS for the last quarter, exceeding expectations, with an annualized dividend yield of 3.6% following a recent quarterly dividend payment of $0.665.

AlTi Global Inc. lessened its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 36.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,650 shares of the pharmacy operator's stock after selling 46,592 shares during the period. AlTi Global Inc.'s holdings in CVS Health were worth $5,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of CVS. Essex Financial Services Inc. increased its stake in CVS Health by 0.8% in the first quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock valued at $1,403,000 after purchasing an additional 166 shares during the last quarter. Hemington Wealth Management lifted its holdings in shares of CVS Health by 33.7% in the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock valued at $46,000 after buying an additional 172 shares during the period. McIlrath & Eck LLC boosted its holdings in CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after buying an additional 174 shares in the last quarter. Sumitomo Life Insurance Co. boosted its position in CVS Health by 1.0% during the first quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator's stock worth $1,159,000 after purchasing an additional 174 shares in the last quarter. Finally, Koshinski Asset Management Inc. grew its position in shares of CVS Health by 3.7% in the first quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock valued at $334,000 after purchasing an additional 178 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CVS shares. Bernstein Bank lowered their target price on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a research note on Wednesday, July 16th. Truist Financial raised their target price on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $71.00 to $82.00 in a research note on Thursday, August 14th. Cowen reaffirmed a "buy" rating on shares of CVS Health in a report on Monday, August 4th. Finally, Barclays increased their price objective on CVS Health from $80.00 to $87.00 and gave the stock an "overweight" rating in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $77.89.

CVS Health Stock Performance

Shares of CVS Health stock traded up $0.07 during midday trading on Friday, hitting $73.76. The company had a trading volume of 5,074,859 shares, compared to its average volume of 5,804,935. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $74.53. The stock has a market cap of $93.56 billion, a PE ratio of 20.60, a P/E/G ratio of 0.81 and a beta of 0.62. The business's 50 day simple moving average is $66.60 and its two-hundred day simple moving average is $66.00. 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 issued its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $94.87 billion. During the same period in the previous year, the company posted $1.83 earnings per share. The company's quarterly revenue was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's dividend payout ratio is 74.30%.

Insider Transactions at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the sale, the director directly owned 22,156 shares of the company's stock, valued at $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.22% of the company's stock.

About CVS Health

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.