CVS Health Corporation $CVS Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has reduced its stake in CVS Health Corporation by 28.1% during the 1st quarter, selling 95,618 shares and now holding 244,651 shares valued at approximately $16.58 million.
• Analysts have recently increased their price targets with Morgan Stanley raising CVS Health's target from $80.00 to $82.00, while Barclays increased it from $80.00 to $87.00, resulting in a consensus rating of "Moderate Buy" and a price target of $77.89.
• CVS Health announced a quarterly dividend of $0.665 per share, representing an annualized amount of $2.66 and a dividend yield of 3.6%, with a payout ratio currently at 74.30%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 28.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 244,651 shares of the pharmacy operator's stock after selling 95,618 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in CVS Health were worth $16,575,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. McIlrath & Eck LLC grew its stake in CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after buying an additional 174 shares during the last quarter. Saudi Central Bank purchased a new stake in shares of CVS Health in the first quarter worth about $34,000. Costello Asset Management INC boosted its stake in shares of CVS Health by 281.3% in the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock worth $39,000 after buying an additional 422 shares during the last quarter. Stone House Investment Management LLC purchased a new position in CVS Health during the first quarter worth approximately $39,000. Finally, Park Square Financial Group LLC acquired a new stake in CVS Health in the 4th quarter valued at $43,000. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Performance

Shares of CVS traded up $0.33 during midday trading on Friday, reaching $75.00. 6,400,711 shares of the stock were exchanged, compared to its average volume of 6,810,735. The business's 50-day moving average price is $67.11 and its 200 day moving average price is $66.33. 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 twelve month low of $43.56 and a twelve month high of $75.55. The company has a market capitalization of $95.12 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 0.83 and a beta 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. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The business had revenue of $98.92 billion for the quarter, compared to analysts' expectations of $94.87 billion. During the same quarter in the previous year, the firm earned $1.83 earnings per share. The business's revenue was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, sell-side analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's payout ratio is currently 74.30%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CVS shares. UBS Group raised shares of CVS Health from a "neutral" rating to a "buy" rating and lifted their price target for the company from $67.00 to $79.00 in a research note on Monday, August 18th. Bernstein Bank cut their price target on CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a report on Wednesday, July 16th. Wall Street Zen lowered CVS Health from a "buy" rating to a "hold" rating in a research report on Saturday. Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $71.00 to $82.00 in a research report on Thursday, August 14th. Finally, Jefferies Financial Group raised their price target on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $77.89.

Insider Activity at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the sale, the director owned 22,156 shares of the company's stock, valued at $1,573,519.12. The trade was a 25.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.22% of the stock is owned by company insiders.

CVS Health 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.