CVS Health Corporation $CVS Shares Sold by Signaturefd LLC

Key Points

• Signaturefd LLC reduced its stake in CVS Health by 21.7% during the second quarter, now owning 15,601 shares valued at $1,076,000.
• Several other institutional investors significantly increased their holdings in CVS Health, with Jennison Associates LLC raising its stake by 503.8% in the first quarter.
• CVS Health recently declared a quarterly dividend of $0.665, representing a yield of 3.5%, set to be paid on November 3rd.

Signaturefd LLC trimmed its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 21.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,601 shares of the pharmacy operator's stock after selling 4,322 shares during the quarter. Signaturefd LLC's holdings in CVS Health were worth $1,076,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC lifted its holdings in CVS Health by 503.8% during the 1st quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock worth $128,477,000 after buying an additional 1,582,257 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of CVS Health by 25.0% in the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock valued at $43,920,000 after purchasing an additional 129,535 shares during the last quarter. Bank of New York Mellon Corp raised its stake in CVS Health by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock valued at $608,481,000 after acquiring an additional 183,813 shares during the last quarter. Brandywine Global Investment Management LLC raised its stake in CVS Health by 20.1% during the 1st quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator's stock valued at $231,808,000 after acquiring an additional 572,533 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in CVS Health by 122.5% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 565,152 shares of the pharmacy operator's stock valued at $38,289,000 after acquiring an additional 311,098 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the sale, the director directly owned 22,156 shares in the company, valued at approximately $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 accessible through the SEC website. Corporate insiders own 1.22% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $78.00 price objective on shares of CVS Health in a research note on Tuesday, August 26th. Sanford C. Bernstein boosted their target price on CVS Health from $72.00 to $77.00 and gave the stock a "market perform" rating in a research report on Friday, September 5th. Barclays boosted their target price on CVS Health from $80.00 to $87.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Zacks Research cut CVS Health from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Finally, Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research report on Sunday, September 21st. Two 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $78.25.

CVS Health Trading Up 1.6%

Shares of CVS opened at $75.80 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $96.14 billion, a P/E ratio of 21.17, a price-to-earnings-growth ratio of 0.84 and a beta of 0.62. The stock's fifty day simple moving average is $69.13 and its 200 day simple moving average is $67.00. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $77.34.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $94.87 billion. During the same period last year, the company posted $1.83 EPS. The business's quarterly 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 year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.5%. The ex-dividend date is Thursday, October 23rd. CVS Health's dividend payout ratio is currently 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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