CVS Health Corporation $CVS Shares Sold by Greenleaf Trust

Key Points

• Greenleaf Trust reduced its stake in CVS Health Corporation by **24.8%**, now holding **15,001 shares** valued at approximately **$1,035,000**.
• CVS Health recently reported a **$1.81 EPS** for the quarter, surpassing expectations and demonstrating an **8.4% revenue growth** year-over-year.
• The company declared a **quarterly dividend** of **$0.665**, with a **dividend yield** of **3.5%**, scheduled for payment on **November 3rd**.

Greenleaf Trust trimmed its position in CVS Health Corporation (NYSE:CVS - Free Report) by 24.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,001 shares of the pharmacy operator's stock after selling 4,948 shares during the quarter. Greenleaf Trust's holdings in CVS Health were worth $1,035,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Essex Financial Services Inc. raised its holdings in shares of CVS Health by 0.8% during the first quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock valued at $1,403,000 after acquiring an additional 166 shares during the period. Williams Financial LLC increased its position in CVS Health by 2.5% in the 2nd quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator's stock worth $478,000 after purchasing an additional 167 shares during the last quarter. Hemington Wealth Management increased its stake in shares of CVS Health by 33.7% during the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock worth $46,000 after purchasing an additional 172 shares during the last quarter. Sumitomo Life Insurance Co. increased 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 worth $1,159,000 after buying an additional 174 shares during the last quarter. Finally, Koshinski Asset Management Inc. grew its holdings 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 valued at $334,000 after purchasing an additional 178 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CVS shares. Robert W. Baird raised CVS Health from a "neutral" rating to an "outperform" rating and raised their target price for the company from $71.00 to $82.00 in a report on Thursday, August 14th. Barclays boosted their price target on CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a research note on Thursday, September 4th. Sanford C. Bernstein boosted their price target on shares of CVS Health from $72.00 to $77.00 and gave the company a "market perform" rating in a research report on Friday, September 5th. Cowen reissued a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Finally, Zacks Research downgraded CVS Health from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Two 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 company's stock. Based on data from MarketBeat.com, CVS Health has an average rating of "Moderate Buy" and an average price target of $78.25.

Insider Buying and Selling

In other 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 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 filing with the Securities & Exchange Commission, which is available at this link. 1.22% of the stock is currently owned by insiders.

CVS Health Stock Performance

Shares of CVS opened at $76.84 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. CVS Health Corporation has a one year low of $43.56 and a one year high of $77.54. The firm has a 50-day moving average of $70.00 and a 200-day moving average of $67.19. The company has a market cap of $97.46 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 0.83 and a beta of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping 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%. CVS Health's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders 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 dividend yield of 3.5%. CVS Health's dividend payout ratio is presently 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.

Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Corporation (NYSE:CVS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.