CVS Health Corporation $CVS Stake Boosted by CX Institutional

Key Points

• CX Institutional significantly increased its stake in CVS Health by 249.3% during the second quarter, now holding 108,847 shares valued at approximately $7.5 million.
• CVS Health recently reported earnings beating expectations with an EPS of $1.81 and $98.92 billion in revenue, indicating an 8.4% year-over-year growth.
• The company has announced a quarterly dividend of $0.665, representing a 3.5% yield as shareholders await payment on November 3rd.

CX Institutional grew its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 249.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,847 shares of the pharmacy operator's stock after purchasing an additional 77,685 shares during the period. CX Institutional's holdings in CVS Health were worth $7,508,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Butensky & Cohen Financial Security Inc. raised its holdings in shares of CVS Health by 1.0% in the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 52,236 shares of the pharmacy operator's stock valued at $3,603,000 after buying an additional 516 shares during the period. Bridge Creek Capital Management LLC raised its holdings in shares of CVS Health by 1.8% in the 2nd quarter. Bridge Creek Capital Management LLC now owns 61,070 shares of the pharmacy operator's stock valued at $4,213,000 after buying an additional 1,105 shares during the period. Diversified Trust Co raised its holdings in shares of CVS Health by 69.3% in the 2nd quarter. Diversified Trust Co now owns 7,370 shares of the pharmacy operator's stock valued at $508,000 after buying an additional 3,018 shares during the period. International Private Wealth Advisors LLC purchased a new stake in shares of CVS Health in the 2nd quarter valued at $323,000. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of CVS Health in the 2nd quarter valued at $155,185,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

Insider Transactions at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the company'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 transaction of $532,650.00. Following the sale, the director owned 22,156 shares in the company, valued at $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CVS shares. Barclays boosted their price objective on CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Sanford C. Bernstein upped their price target on CVS Health from $72.00 to $77.00 and gave the stock a "market perform" rating in a report on Friday, September 5th. Cantor Fitzgerald restated an "overweight" rating and set a $78.00 price target on shares of CVS Health in a report on Tuesday, August 26th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Sunday. Finally, Bernstein Bank cut their price target on CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, CVS Health has an average rating of "Moderate Buy" and a consensus target price of $77.89.

CVS Health Stock Performance

CVS Health stock traded up $0.53 during mid-day trading on Friday, reaching $74.95. 13,414,318 shares of the company were exchanged, compared to its average volume of 7,002,839. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $76.24. The firm's 50-day simple moving average is $67.91 and its two-hundred day simple moving average is $66.64. 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 $95.06 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 0.83 and a beta of 0.62.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.35. The company had revenue of $98.92 billion during the quarter, compared to analysts' expectations of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the firm earned $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed 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. This represents a $2.66 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health's payout ratio is currently 74.30%.

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.