Belpointe Asset Management LLC Trims Stake in CVS Health Corporation $CVS

Key Points

• Belpointe Asset Management LLC reduced its stake in CVS Health by 49.1% in the second quarter, holding 4,081 shares worth approximately $282,000 after selling 3,943 shares.
• CVS Health announced a quarterly dividend of $0.665 per share, with an annualized dividend yield of 3.4%, set to be paid on November 3rd.
• Recent earnings report showed CVS Health beat analysts' expectations with a $1.81 EPS and revenue of $98.92 billion, marking an 8.4% increase year-over-year.

Belpointe Asset Management LLC trimmed its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 49.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,081 shares of the pharmacy operator's stock after selling 3,943 shares during the period. Belpointe Asset Management LLC's holdings in CVS Health were worth $282,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CVS. Bell Investment Advisors Inc increased its stake in shares of CVS Health by 119.8% in the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator's stock worth $31,000 after purchasing an additional 248 shares in the last quarter. Roxbury Financial LLC increased its stake in CVS Health by 78.3% in the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator's stock worth $32,000 after buying an additional 202 shares in the last quarter. ORG Partners LLC increased its stake 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 buying an additional 377 shares in the last quarter. Saudi Central Bank purchased a new stake in CVS Health in the 1st quarter worth $34,000. Finally, Livelsberger Financial Advisory purchased a new stake in CVS Health in the 2nd quarter worth $35,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Up 1.5%

CVS opened at $77.89 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $79.20. The firm has a 50-day simple moving average of $72.28 and a two-hundred day simple moving average of $67.67. The company has a market capitalization of $98.79 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 0.85 and a beta of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The firm had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. During the same quarter last year, the firm earned $1.83 EPS. The firm's revenue for the quarter 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. Analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.4%. CVS Health's dividend payout ratio (DPR) is presently 74.30%.

Insider Activity at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction dated 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 transaction, the director owned 22,156 shares of the company's stock, valued at approximately $1,573,519.12. This trade represents a 25.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.22% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CVS. Wells Fargo & Company increased their price target on CVS Health from $84.00 to $103.00 and gave the stock an "overweight" rating in a research note on Tuesday. Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $71.00 to $82.00 in a research note on Thursday, August 14th. Cowen reiterated a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Mizuho increased their price target on CVS Health from $76.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Baird R W raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, CVS Health has a consensus rating of "Moderate Buy" and a consensus target price of $79.80.

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.

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