CVS Health Corporation $CVS Shares Sold by Haverford Trust Co

Key Points

• Haverford Trust Co reduced its holdings in CVS Health by 17.7%, now owning 76,814 shares worth approximately $5.2 million after selling 16,566 shares in the 1st quarter.
• Institutional investors hold 80.66% of CVS Health's stock, with several firms like Goldman Sachs and Assenagon Asset Management making significant increases to their positions during the same period.
• CVS Health reported an earnings per share of $1.81 for the last quarter, surpassing analyst estimates, and announced a quarterly dividend of $0.665 per share, reflecting a yield of 3.7%.

Haverford Trust Co lessened its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 17.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,814 shares of the pharmacy operator's stock after selling 16,566 shares during the quarter. Haverford Trust Co's holdings in CVS Health were worth $5,204,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVS. Goldman Sachs Group Inc. increased its holdings in CVS Health by 87.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator's stock worth $672,598,000 after buying an additional 4,632,530 shares during the period. Nuveen LLC acquired a new position in CVS Health in the 1st quarter worth approximately $204,421,000. Fairfax Financial Holdings Ltd. Can acquired a new position in CVS Health in the 4th quarter worth approximately $121,742,000. Assenagon Asset Management S.A. increased its holdings in CVS Health by 310.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,523,824 shares of the pharmacy operator's stock worth $238,739,000 after buying an additional 2,666,029 shares during the period. Finally, Invesco Ltd. increased its holdings in CVS Health by 13.2% in the 1st quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator's stock worth $1,383,039,000 after buying an additional 2,375,764 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

Insider Activity

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were purchased at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the transaction, the director directly owned 12,007 shares of the company's stock, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on CVS shares. Truist Financial upped their price objective on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Bernstein Bank lowered their price objective on CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 16th. Morgan Stanley upped their price objective on CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Barclays upped their price objective on CVS Health from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada upped their price objective on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $76.67.

CVS Health Trading Down 0.4%

Shares of NYSE:CVS opened at $71.1740 on Friday. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $72.51. The firm has a market capitalization of $90.27 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 0.79 and a beta of 0.58. 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 business's 50 day moving average price is $65.50 and its 200-day moving average price is $65.18.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same quarter last year, the firm posted $1.83 EPS. The business's revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities research analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.7%. CVS Health's dividend payout ratio (DPR) 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.

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