CVS Health Corporation $CVS Shares Sold by Avanza Fonder AB

Key Points

• Avanza Fonder AB reduced its stake in CVS Health Corporation by 6.0%, selling 5,480 shares during the second quarter and valuing its remaining holdings at about $5.9 million.
• Recent analyst reports show a mix of ratings, with Bernstein lowering its price target to $72.00, while UBS and Baird upgraded CVS to a "buy" rating with a target price up to $79.00.
• CVS Health announced a quarterly dividend of $0.665 per share, representing a 3.5% dividend yield, which will be paid to investors on November 3rd.

Avanza Fonder AB decreased its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 6.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 85,882 shares of the pharmacy operator's stock after selling 5,480 shares during the quarter. Avanza Fonder AB's holdings in CVS Health were worth $5,924,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Essex Financial Services Inc. raised its holdings in CVS Health by 0.8% during the first quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock worth $1,403,000 after buying an additional 166 shares during the last quarter. Williams Financial LLC grew its position in CVS Health by 2.5% during the second quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator's stock valued at $478,000 after buying an additional 167 shares during the period. Hemington Wealth Management grew its position in CVS Health by 33.7% during the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock valued at $46,000 after buying an additional 172 shares during the period. Sumitomo Life Insurance Co. grew its position in CVS Health by 1.0% during the first quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator's stock valued at $1,159,000 after buying an additional 174 shares during the period. Finally, Koshinski Asset Management Inc. boosted its position in CVS Health by 3.7% during the first quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock worth $334,000 after purchasing an additional 178 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

Insider Activity 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 value of $532,650.00. Following the transaction, the director owned 22,156 shares of the company's stock, valued at $1,573,519.12. This represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.22% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVS. Baird R W raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Bernstein Bank decreased their price target on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 16th. Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a report on Sunday. Cowen reiterated a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Finally, UBS Group raised CVS Health from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $67.00 to $79.00 in a research report on Monday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $78.25.

CVS Health Price Performance

Shares of NYSE:CVS traded up $1.33 during trading on Tuesday, reaching $76.46. The stock had a trading volume of 3,201,473 shares, compared to its average volume of 9,525,052. 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 business has a fifty day moving average price of $68.13 and a 200-day moving average price of $66.70. The stock has a market cap of $96.97 billion, a PE ratio of 21.35, a PEG ratio of 0.83 and a beta of 0.62. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $76.92.

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. The firm had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The business's revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

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 paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.5%. CVS Health's payout ratio is 74.30%.

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.