Douglas Lane & Associates LLC Lowers Stock Position in CVS Health Corporation $CVS

Key Points

• Douglas Lane & Associates LLC decreased its holdings in CVS Health Corporation by 15.7%, reducing their position to 592,385 shares valued at $40.86 million.
• CVS Health reported $1.81 earnings per share (EPS) for the recent quarter, surpassing analyst expectations of $1.46, with a revenue of $98.92 billion.
• The company declared a quarterly dividend of $0.665 per share, representing an annualized rate of $2.66 and a dividend yield of 3.5%.

Douglas Lane & Associates LLC trimmed its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 15.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 592,385 shares of the pharmacy operator's stock after selling 110,278 shares during the quarter. Douglas Lane & Associates LLC's holdings in CVS Health were worth $40,863,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its holdings in 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 in the last quarter. Dodge & Cox lifted its holdings 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 in the last quarter. Nuveen LLC purchased a new position in CVS Health during the first quarter valued at approximately $204,421,000. Assenagon Asset Management S.A. lifted its holdings in CVS Health by 310.8% during the first quarter. Assenagon Asset Management S.A. now owns 3,523,824 shares of the pharmacy operator's stock valued at $238,739,000 after purchasing an additional 2,666,029 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in 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 in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Trading Up 0.3%

CVS stock traded up $0.20 during trading on Tuesday, hitting $73.66. The company had a trading volume of 4,172,008 shares, compared to its average volume of 9,592,743. The firm has a market capitalization of $93.43 billion, a P/E ratio of 20.55, a PEG ratio of 0.83 and a beta of 0.62. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $75.55. The company has a 50 day simple moving average of $67.25 and a 200-day simple moving average of $66.38. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74.

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, beating analysts' consensus estimates of $1.46 by $0.35. The business had revenue of $98.92 billion for the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, research analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were paid a $0.665 dividend. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 3.6%. CVS Health's dividend payout ratio (DPR) is 74.30%.

Insider Buying and Selling

In related news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 $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 link. 1.22% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $78.00 price target on shares of CVS Health in a report on Tuesday, August 26th. Cowen reissued a "buy" rating on shares of CVS Health in a report on Monday, August 4th. Baird R W upgraded shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Robert W. Baird upgraded shares of CVS Health from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $71.00 to $82.00 in a research report on Thursday, August 14th. Finally, Morgan Stanley boosted their price target on shares of CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Two 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's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $77.89.

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.