CVS Health Corporation $CVS Shares Sold by Hudson Edge Investment Partners Inc.

Key Points

• Hudson Edge Investment Partners Inc. reduced its stake in CVS Health by 4.7%, owning 100,135 shares which represent 1.2% of its investment portfolio valued at approximately $6.9 million.
• CVS Health recently announced a quarterly dividend of $0.665, scheduled to be paid on November 3rd, resulting in an annualized yield of 3.4% and a payout ratio of 74.3%.
• Analysts have upgraded CVS Health's stock ratings, with several firms increasing their price targets, reflecting a positive outlook for the company amid strong earnings and revenue growth.

Hudson Edge Investment Partners Inc. decreased its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 4.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,135 shares of the pharmacy operator's stock after selling 4,963 shares during the period. CVS Health comprises 1.2% of Hudson Edge Investment Partners Inc.'s investment portfolio, making the stock its 16th biggest position. Hudson Edge Investment Partners Inc.'s holdings in CVS Health were worth $6,907,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CVS. Goldman Sachs Group Inc. lifted its position in shares of CVS Health by 87.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator's stock worth $672,598,000 after purchasing an additional 4,632,530 shares in the last quarter. Dodge & Cox lifted its holdings in CVS Health by 4.8% during the 1st quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator's stock worth $4,976,856,000 after buying an additional 3,353,223 shares in the last quarter. Nuveen LLC purchased a new position in CVS Health in the 1st quarter valued at approximately $204,421,000. Assenagon Asset Management S.A. grew its stake in shares of CVS Health by 310.8% in the first quarter. Assenagon Asset Management S.A. now owns 3,523,824 shares of the pharmacy operator's stock worth $238,739,000 after acquiring an additional 2,666,029 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of CVS Health by 13.2% during the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator's stock worth $1,383,039,000 after acquiring an additional 2,375,764 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.22% of the stock is currently owned by company insiders.

CVS Health Stock Performance

NYSE CVS opened at $77.48 on Friday. The company has a fifty day moving average of $70.37 and a two-hundred day moving average of $67.27. The company has a market capitalization of $98.27 billion, a PE ratio of 21.64, a P/E/G ratio of 0.85 and a beta of 0.60. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $77.76. 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 (NYSE:CVS - Get Free Report) last posted its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.35. The business had revenue of $98.92 billion for 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 business's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous 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, analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced 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. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health's payout ratio is presently 74.30%.

Analysts Set New Price Targets

CVS has been the subject of a number of recent research reports. Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $71.00 to $82.00 in a report on Thursday, August 14th. Baird R W raised CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. UBS Group raised shares of CVS Health from a "neutral" rating to a "buy" rating and raised their target price for the company from $67.00 to $79.00 in a report on Monday, August 18th. Barclays lifted their price target on shares of CVS Health from $80.00 to $87.00 and gave the stock an "overweight" rating in a research note on Thursday, September 4th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, CVS Health presently has an average rating of "Moderate Buy" and an average target price of $78.25.

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.

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