CVS Health Corporation $CVS Shares Sold by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue reduced its holdings in CVS Health Corporation by 3.0%, selling 5,395 shares, which are now valued at $12.16 million.
• Goldman Sachs increased its stake in CVS Health by 87.5%, owning nearly 10 million shares worth about $672.6 million after acquiring additional shares.
• CVS Health recently declared a quarterly dividend of $0.665 per share, amounting to an annualized dividend yield of 3.5%, with an ex-dividend date of October 23rd.

State of Alaska Department of Revenue decreased its position in CVS Health Corporation (NYSE:CVS - Free Report) by 3.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,298 shares of the pharmacy operator's stock after selling 5,395 shares during the quarter. State of Alaska Department of Revenue's holdings in CVS Health were worth $12,160,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CVS. Goldman Sachs Group Inc. increased its stake in shares of CVS Health by 87.5% during the 1st 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 stake in CVS Health by 4.8% during the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator's stock valued at $4,976,856,000 after purchasing an additional 3,353,223 shares during the last quarter. Nuveen LLC purchased a new position in shares of CVS Health during the 1st quarter valued at $204,421,000. Assenagon Asset Management S.A. increased its stake in shares of CVS Health by 310.8% during 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 purchasing an additional 2,666,029 shares during the last quarter. Finally, Invesco Ltd. boosted 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 valued at $1,383,039,000 after purchasing an additional 2,375,764 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

Insiders Place Their Bets

In other news, Director Anne A. Finucane sold 7,500 shares of the business's 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 directly 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 filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.22% of the company's stock.

CVS Health Trading Up 1.6%

CVS opened at $75.80 on Friday. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $77.34. The stock has a fifty day moving average price of $69.13 and a 200-day moving average price of $66.99. 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 cap of $96.14 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 0.84 and a beta of 0.62.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.35. The business had revenue of $98.92 billion during 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 company's revenue for the quarter was up 8.4% on a year-over-year basis. 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 research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Thursday, October 23rd. CVS Health's dividend payout ratio (DPR) is presently 74.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Sanford C. Bernstein lifted their price target on shares of CVS Health from $72.00 to $77.00 and gave the stock a "market perform" rating in a research report on Friday, September 5th. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research report on Monday, August 4th. Barclays raised their price objective on shares of CVS Health from $80.00 to $87.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Baird R W upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Finally, UBS Group raised CVS Health from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $67.00 to $79.00 in a report on Monday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, CVS Health has an average rating of "Moderate Buy" and a consensus 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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