First United Bank & Trust Has $682,000 Stock Position in CVS Health Corporation $CVS

Key Points

• First United Bank & Trust increased its holdings in CVS Health Corporation by 230.4% in Q2, owning 9,880 shares worth $682,000 at the end of that quarter.
• Following recent transactions, institutional investors now own 80.66% of CVS Health's stock, showcasing significant confidence in the company's performance.
• CVS Health reported Q2 earnings of $1.81 per share, exceeding analysts’ estimates, while also declaring a quarterly dividend of $0.665 per share with a yield of 3.5%.

First United Bank & Trust raised its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 230.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,880 shares of the pharmacy operator's stock after purchasing an additional 6,890 shares during the period. First United Bank & Trust's holdings in CVS Health were worth $682,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CVS. GAMMA Investing LLC boosted its holdings in CVS Health by 20,124.3% in the 1st quarter. GAMMA Investing LLC now owns 1,264,825 shares of the pharmacy operator's stock valued at $85,692,000 after purchasing an additional 1,258,571 shares during the period. Parallel Advisors LLC boosted its holdings in CVS Health by 34.8% in the 1st quarter. Parallel Advisors LLC now owns 10,325 shares of the pharmacy operator's stock valued at $699,000 after purchasing an additional 2,663 shares during the period. Fifth Third Wealth Advisors LLC lifted its holdings in shares of CVS Health by 13.6% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 12,578 shares of the pharmacy operator's stock worth $852,000 after acquiring an additional 1,509 shares during the period. Czech National Bank lifted its holdings in shares of CVS Health by 6.2% during the 1st quarter. Czech National Bank now owns 289,645 shares of the pharmacy operator's stock worth $19,623,000 after acquiring an additional 16,791 shares during the period. Finally, Baker Tilly Wealth Management LLC bought a new stake in shares of CVS Health during the 1st quarter worth approximately $887,000. Institutional investors own 80.66% of the company's stock.

Insider Buying and Selling at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the transaction, 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 ownership of the stock. 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 insiders.

CVS Health Stock Down 0.3%

CVS Health stock opened at $75.52 on Tuesday. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $77.34. The firm has a market capitalization of $95.78 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 0.84 and a beta of 0.62. The firm's fifty day moving average price is $69.41 and its two-hundred day moving average price is $67.07. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The company had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same period last year, the firm earned $1.83 earnings per share. The firm's 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 predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors 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 of this dividend is Thursday, October 23rd. CVS Health's dividend payout ratio (DPR) is presently 74.30%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CVS. Robert W. Baird raised shares of CVS Health from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $71.00 to $82.00 in a report on Thursday, August 14th. Barclays upped their price target on shares of CVS Health from $80.00 to $87.00 and gave the stock an "overweight" rating in a report on Thursday, September 4th. Zacks Research downgraded shares of CVS Health from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Morgan Stanley upped their price target on shares of CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Jefferies Financial Group increased their price objective on shares of CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, CVS Health presently has an average rating of "Moderate Buy" and a consensus price target of $78.25.

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.

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