Atalanta Sosnoff Capital LLC Takes Position in CVS Health Corporation $CVS

Key Points

• Atalanta Sosnoff Capital LLC has acquired 6,842 shares of CVS Health, valued at about $464,000, as revealed in their recent SEC filing.
• CVS Health recently reported a quarterly revenue of $98.92 billion, surpassing analysts' expectations, with an earnings per share (EPS) of $1.81.
• Institutional investors and hedge funds own approximately 80.66% of CVS Health's stock, reflecting strong institutional interest in the company.

Atalanta Sosnoff Capital LLC acquired a new stake in CVS Health Corporation (NYSE:CVS - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,842 shares of the pharmacy operator's stock, valued at approximately $464,000.

A number of other hedge funds have also modified their holdings of CVS. McIlrath & Eck LLC increased its holdings in shares of 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 purchasing an additional 174 shares during the period. Saudi Central Bank acquired a new position in shares of CVS Health in the first quarter valued at about $34,000. Costello Asset Management INC increased its holdings in shares of 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 purchasing an additional 422 shares during the period. Stone House Investment Management LLC acquired a new position in shares of CVS Health in the first quarter valued at about $39,000. Finally, Park Square Financial Group LLC acquired a new position in shares of CVS Health in the fourth quarter valued at about $43,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CVS has been the topic of a number of research reports. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Morgan Stanley raised their target price on CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Truist Financial raised their target price on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Jefferies Financial Group raised their target price on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Finally, Baird R W raised CVS Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Two equities research 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. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $77.89.

Insider Buying and Selling at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the firm's stock in a transaction that occurred 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 owned 22,156 shares in the company, valued at $1,573,519.12. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.22% of the stock is currently owned by company insiders.

CVS Health Price Performance

CVS traded up $0.07 during trading on Friday, hitting $73.76. The company's stock had a trading volume of 5,074,859 shares, compared to its average volume of 5,804,935. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $74.53. The business's fifty day simple moving average is $66.60 and its 200 day simple moving average is $66.00. The firm has a market capitalization of $93.56 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 0.81 and a beta of 0.62.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 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 company had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same period last year, the company earned $1.83 earnings per share. CVS Health'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. On average, equities research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

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

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.