Dakota Wealth Management Sells 4,566 Shares of CVS Health Corporation $CVS

Key Points

• Dakota Wealth Management reduced its stake in CVS Health Corporation by 18.4%, selling 4,566 shares and ending with 20,231 shares valued at approximately $1.4 million.
• Various institutional investors made significant adjustments to their CVS holdings, with Jennison Associates LLC increasing its stake by 503.8% during the first quarter.
• CVS Health reported earnings of $1.81 per share, exceeding analyst estimates, and a revenue of $98.92 billion, indicating an 8.4% year-over-year growth.

Dakota Wealth Management lowered its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 18.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,231 shares of the pharmacy operator's stock after selling 4,566 shares during the period. Dakota Wealth Management's holdings in CVS Health were worth $1,396,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jennison Associates LLC raised its stake in CVS Health by 503.8% in the 1st quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock valued at $128,477,000 after acquiring an additional 1,582,257 shares during the period. Cerity Partners LLC grew its holdings in shares of CVS Health by 25.0% during the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock worth $43,920,000 after purchasing an additional 129,535 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of 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 worth $608,481,000 after purchasing an additional 183,813 shares in the last quarter. Brandywine Global Investment Management LLC grew its holdings in shares of 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 worth $231,808,000 after purchasing an additional 572,533 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in shares of 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 worth $38,289,000 after purchasing an additional 311,098 shares in the last quarter. Institutional investors own 80.66% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Baird R W raised CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Zacks Research downgraded CVS Health from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Cowen reiterated a "buy" rating on shares of CVS Health in a research report on Monday, August 4th. Jefferies Financial Group increased their target price on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Finally, UBS Group upgraded CVS Health from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $67.00 to $79.00 in a research report on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.25.

CVS Health Price Performance

Shares of CVS opened at $75.80 on Friday. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $77.34. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The company has a market capitalization of $96.14 billion, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 0.82 and a beta of 0.62. The business has a 50-day moving average of $69.13 and a 200-day moving average of $66.98.

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 analysts' consensus estimates of $1.46 by $0.35. The business had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.83 earnings per share. 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 year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders 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 yield of 3.5%. The ex-dividend date is Thursday, October 23rd. CVS Health's payout ratio is presently 74.30%.

Insiders Place Their Bets

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction that occurred 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. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.22% of the company's stock.

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.

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.