APG Asset Management N.V. Has $46.49 Million Holdings in CVS Health Corporation $CVS

Key Points

• APG Asset Management N.V. has reduced its stake in CVS Health Corporation by 3.5%, now owning approximately 0.06% of the company, valued at $46.49 million.
• CVS Health reported earnings of $1.81 per share for the recent quarter, exceeding estimates, and its revenue increased 8.4% year-over-year to $98.92 billion.
• The company recently announced a quarterly dividend of $0.665 per share, resulting in an annualized yield of 3.7%.

APG Asset Management N.V. reduced its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 741,238 shares of the pharmacy operator's stock after selling 26,790 shares during the period. APG Asset Management N.V. owned about 0.06% of CVS Health worth $46,490,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. McIlrath & Eck LLC lifted its stake in CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after buying an additional 174 shares during the last quarter. Costello Asset Management INC lifted its stake in CVS Health by 281.3% in the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock valued at $39,000 after buying an additional 422 shares during the last quarter. Stone House Investment Management LLC bought a new stake in shares of CVS Health during the first quarter valued at about $39,000. Park Square Financial Group LLC bought a new stake in shares of CVS Health during the fourth quarter valued at about $43,000. Finally, GW&K Investment Management LLC raised its stake in shares of CVS Health by 39.4% during the first quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock valued at $43,000 after purchasing an additional 180 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Guy P. Sansone purchased 1,570 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were purchased at an average price of $63.70 per share, with a total value of $100,009.00. Following the purchase, the director owned 12,007 shares of the company's stock, valued at $764,845.90. This trade represents a 15.04% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.22% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CVS shares. Morgan Stanley lifted their price objective on shares of CVS Health from $80.00 to $82.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Robert W. Baird upgraded shares of CVS Health from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $71.00 to $82.00 in a research note on Thursday, August 14th. Truist Financial lifted their price objective on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Jefferies Financial Group boosted their price target on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $84.00 price target (up from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $77.56.

CVS Health Trading Up 0.5%

CVS traded up $0.39 during trading on Wednesday, reaching $71.94. The company had a trading volume of 3,586,239 shares, compared to its average volume of 9,739,502. The firm's 50-day simple moving average is $65.66 and its 200 day simple moving average is $65.42. The company has a market cap of $91.24 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 0.79 and a beta of 0.58. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80.

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 for the quarter, topping analysts' consensus estimates of $1.46 by $0.35. The firm had revenue of $98.92 billion for 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%.CVS Health's revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were paid a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 3.7%. CVS Health's dividend payout ratio (DPR) is currently 74.30%.

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.