Blume Capital Management Inc. Has $3.50 Million Holdings in CVS Health Corporation $CVS

Key Points

• Blume Capital Management Inc. reduced its holdings in CVS Health Corporation by 24.9%, selling 16,865 shares, and now holds shares worth approximately $3.50 million.
• CVS Health's recent quarterly earnings report showed $1.81 earnings per share, surpassing estimates, and revenue reached $98.92 billion, an 8.4% increase from the previous year.
• The company announced a quarterly dividend of $0.665 per share, which represents a yield of 3.2%, with the ex-dividend date set for October 23rd.

Blume Capital Management Inc. lessened its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 24.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,769 shares of the pharmacy operator's stock after selling 16,865 shares during the quarter. Blume Capital Management Inc.'s holdings in CVS Health were worth $3,502,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Harbor Asset Planning Inc. acquired a new stake in shares of CVS Health in the second quarter valued at about $30,000. Bell Investment Advisors Inc boosted its position in CVS Health by 119.8% during the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator's stock valued at $31,000 after purchasing an additional 248 shares during the last quarter. Roxbury Financial LLC grew its stake in CVS Health by 78.3% in the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 202 shares in the last quarter. ORG Partners LLC increased its position in shares of CVS Health by 418.9% during the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 377 shares during the last quarter. Finally, Saudi Central Bank bought a new stake in shares of CVS Health in the 1st quarter valued at about $34,000. Institutional investors own 80.66% of the company's stock.

Insider Buying and Selling at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the company's 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 in the company, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.22% of the company's stock.

CVS Health Price Performance

NYSE:CVS opened at $83.06 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The firm has a market cap of $105.34 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 0.91 and a beta of 0.60. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $83.52. The firm's 50-day simple moving average is $74.70 and its 200 day simple moving average is $68.36.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $94.87 billion. During the same quarter in the prior year, the business posted $1.83 EPS. The business's 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, sell-side analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders 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 annualized dividend and a yield of 3.2%. CVS Health's payout ratio is currently 74.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Cowen reiterated a "buy" rating on shares of CVS Health in a report on Monday, August 4th. Zacks Research cut CVS Health from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Truist Financial set a $92.00 target price on CVS Health in a report on Tuesday, October 14th. UBS Group raised CVS Health from a "neutral" rating to a "buy" rating and raised their price target for the company from $67.00 to $79.00 in a report on Monday, August 18th. Finally, Sanford C. Bernstein upped their price objective on shares of CVS Health from $72.00 to $77.00 and gave the company a "market perform" rating in a report on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued 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 $82.57.

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.

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