CVS Health Corporation $CVS Shares Sold by Community Trust & Investment Co.

Key Points

• Community Trust & Investment Co. decreased its stake in CVS Health by 1.7%, now holding 261,518 shares valued at approximately $18.04 million.
• CVS Health recently reported earnings of $1.81 per share, surpassing analysts' expectations of $1.46, with revenue of $98.92 billion for the quarter.
• The company announced a quarterly dividend of $0.665 per share, equating to an annualized dividend of $2.66 and a yield of 3.6%.

Community Trust & Investment Co. lowered its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 261,518 shares of the pharmacy operator's stock after selling 4,435 shares during the period. Community Trust & Investment Co.'s holdings in CVS Health were worth $18,040,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CVS. Essex Financial Services Inc. lifted its holdings in shares of CVS Health by 0.8% in the first quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock valued at $1,403,000 after purchasing an additional 166 shares in the last quarter. Hemington Wealth Management lifted its holdings in shares of CVS Health by 33.7% in the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock valued at $46,000 after purchasing an additional 172 shares in the last quarter. McIlrath & Eck LLC lifted its holdings in shares of CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. Sumitomo Life Insurance Co. lifted its holdings in shares of CVS Health by 1.0% in the first quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator's stock valued at $1,159,000 after purchasing an additional 174 shares in the last quarter. Finally, Koshinski Asset Management Inc. lifted its holdings in shares of CVS Health by 3.7% in the first quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock valued at $334,000 after purchasing an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Stock Up 0.7%

Shares of CVS stock traded up $0.53 on Friday, hitting $74.95. The stock had a trading volume of 13,414,318 shares, compared to its average volume of 6,679,727. The firm has a market capitalization of $95.06 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 0.82 and a beta of 0.62. The stock's 50 day moving average is $67.91 and its 200-day moving average is $66.62. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $76.24.

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 for the quarter, beating the consensus estimate of $1.46 by $0.35. The business had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current 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. This represents a $2.66 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Thursday, October 23rd. CVS Health's dividend payout ratio is 74.30%.

Insider Buying and Selling

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction 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 transaction, the director directly owned 22,156 shares in the company, valued at $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 is available through this link. 1.22% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CVS shares. Baird R W raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Cowen reissued a "buy" rating on shares of CVS Health in a research report on Monday, August 4th. Cantor Fitzgerald reissued an "overweight" rating and issued a $78.00 price objective on shares of CVS Health in a research report on Tuesday, August 26th. 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 research report on Monday, June 30th. Finally, Morgan Stanley upped their price target on shares of CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.89.

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.