Cullen Investment Group LTD. Trims Position in CVS Health Corporation $CVS

Key Points

• Cullen Investment Group LTD. reduced its stake in CVS Health by 28.5%, holding 11,873 shares, after selling 4,724 shares in the second quarter.
• CVS Health reported $1.81 earnings per share for its last quarter, exceeding analysts' expectations of $1.46, with revenue of $98.92 billion.
• The company announced a quarterly dividend of $0.665 per share, representing a 3.5% annual dividend yield.

Cullen Investment Group LTD. lessened its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 28.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,873 shares of the pharmacy operator's stock after selling 4,724 shares during the period. Cullen Investment Group LTD.'s holdings in CVS Health were worth $819,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Bell Investment Advisors Inc raised its holdings in shares of CVS Health by 119.8% during the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator's stock worth $31,000 after acquiring an additional 248 shares during the period. McIlrath & Eck LLC raised its holdings in CVS Health by 32.6% in the 4th 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 period. Saudi Central Bank purchased a new stake in CVS Health in the 1st quarter valued at about $34,000. Costello Asset Management INC raised its holdings in CVS Health by 281.3% in the 1st 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 period. Finally, Stone House Investment Management LLC purchased a new stake in CVS Health in the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Stock Up 0.4%

Shares of NYSE:CVS opened at $75.00 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The firm has a market capitalization of $95.12 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 0.82 and a beta of 0.62. The firm's 50-day moving average is $67.11 and its two-hundred day moving average is $66.30. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $75.55.

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 (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 company had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same period in the prior year, the firm earned $1.83 earnings per share. The business'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 predict that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Tuesday, July 22nd. CVS Health's dividend payout ratio is presently 74.30%.

Insider Buying and Selling at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.22% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVS. Jefferies Financial Group boosted their price objective on shares of CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a report on Monday, June 30th. Bernstein Bank reduced their price objective on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a report on Wednesday, July 16th. UBS Group upgraded shares of CVS Health from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $67.00 to $79.00 in a report on Monday, August 18th. Zacks Research lowered shares of CVS Health from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Finally, Sanford C. Bernstein boosted their price target on shares of CVS Health from $72.00 to $77.00 and gave the stock a "market perform" rating in a research note on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $77.89.

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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