Benin Management CORP Sells 4,837 Shares of CVS Health Corporation $CVS

Key Points

• Benin Management CORP has reduced its stake in CVS Health by 36.2%, selling 4,837 shares and retaining 8,528 shares valued at $588,000.
• CVS Health recently reported Q2 earnings with $1.81 EPS, surpassing estimates, and achieved $98.92 billion in revenue, an 8.4% increase year-over-year.
• The company declared a quarterly dividend of $0.665 per share, set to be paid on November 3rd, with a dividend yield of 3.2%.

Benin Management CORP lessened its position in CVS Health Corporation (NYSE:CVS - Free Report) by 36.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,528 shares of the pharmacy operator's stock after selling 4,837 shares during the period. Benin Management CORP's holdings in CVS Health were worth $588,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CVS. Harbor Asset Planning Inc. purchased a new position in CVS Health in the second quarter worth about $30,000. Bell Investment Advisors Inc lifted its holdings 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 worth $31,000 after buying an additional 248 shares in the last quarter. Roxbury Financial LLC lifted its holdings in shares of CVS Health by 78.3% in the second 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 raised its stake in CVS Health by 418.9% during the second quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 377 shares in the last quarter. Finally, Saudi Central Bank purchased a new stake in CVS Health during the first quarter valued at $34,000. Institutional investors own 80.66% of the company's stock.

CVS Health Trading Up 0.7%

Shares of CVS opened at $83.06 on Wednesday. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $83.52. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The firm's fifty day moving average is $74.70 and its two-hundred day moving average is $68.36. The stock has a market cap of $105.34 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 0.91 and a beta of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly 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. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The business had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same quarter in the previous year, the firm earned $1.83 EPS. 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. Research 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. Shareholders of record on Thursday, October 23rd will be paid a dividend of $0.665 per share. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.2%. CVS Health's dividend payout ratio is 74.30%.

Insider Transactions at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the business's stock in a transaction dated 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 transaction, the director directly owned 22,156 shares of the company's stock, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.22% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CVS shares. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a report on Sunday, September 21st. The Goldman Sachs Group began coverage on shares of CVS Health in a research note on Tuesday, October 14th. They issued a "buy" rating and a $91.00 target price for the company. Jefferies Financial Group raised their price target on shares of CVS Health from $80.00 to $92.00 in a research report on Wednesday, October 15th. Wolfe Research raised their price target on shares of CVS Health from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Finally, Wells Fargo & Company raised their price target 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. Two investment 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $82.57.

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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