CVS Health Corporation $CVS Shares Sold by Violich Capital Management Inc.

Key Points

• Violich Capital Management Inc. sold 11.1% of its shares in CVS Health, reducing its holdings to 54,414 shares valued at approximately $3.75 million.
• Goldman Sachs Group Inc. increased its stake in CVS Health by 87.5%, owning nearly 9.93 million shares worth about $672.6 million, while other investors also modified their positions in the company.
• CVS Health announced a quarterly dividend of $0.665 per share, payable on November 3rd, representing a dividend yield of 3.2% based on an annualized amount of $2.66.

Violich Capital Management Inc. trimmed its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 11.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,414 shares of the pharmacy operator's stock after selling 6,817 shares during the period. Violich Capital Management Inc.'s holdings in CVS Health were worth $3,753,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CVS. Goldman Sachs Group Inc. increased its holdings 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 valued at $672,598,000 after purchasing an additional 4,632,530 shares during the period. Dodge & Cox increased its holdings in shares of 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 period. Nuveen LLC acquired a new position in shares of CVS Health during the first quarter valued at $204,421,000. Invesco Ltd. increased its holdings 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 valued at $1,383,039,000 after purchasing an additional 2,375,764 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of CVS Health by 815.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 2,663,111 shares of the pharmacy operator's stock valued at $183,701,000 after purchasing an additional 2,372,121 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was 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. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.22% of the stock is owned by company insiders.

CVS Health Trading Up 1.6%

Shares of NYSE CVS opened at $82.64 on Friday. CVS Health Corporation has a one year low of $43.56 and a one year high of $82.88. The firm has a market capitalization of $104.81 billion, a PE ratio of 23.08, a PEG ratio of 0.91 and a beta of 0.60. 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 business has a 50-day moving average price of $74.00 and a two-hundred day moving average price of $68.12.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $98.92 billion during 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% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.2%. CVS Health's dividend payout ratio (DPR) is 74.30%.

Analyst Ratings Changes

A number of research analysts recently issued reports on CVS shares. Robert W. Baird raised CVS Health from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $71.00 to $82.00 in a report on Thursday, August 14th. Cowen reiterated a "buy" rating on shares of CVS Health in a research report on Monday, August 4th. Bernstein Bank decreased their price target on CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a research report on Wednesday, July 16th. Barclays increased their price target on CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a research report on Thursday, September 4th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $78.00 price target on shares of CVS Health in a research report on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $82.57.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.