Focus Partners Wealth Cuts Stake in CVS Health Corporation $CVS

Key Points

• Focus Partners Wealth sold 43,061 shares of CVS Health Corporation, reducing its stake by 11.7% during the 1st quarter, resulting in holdings valued at $22,021,000.
• Golden Sachs increased its position in CVS Health by 87.5%, now owning nearly 9.93 million shares worth about $672.6 million.
• CVS Health announced a quarterly dividend of $0.665 per share, reflecting an annualized yield of 3.6% with a payout ratio of 74.30%.

Focus Partners Wealth decreased its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 11.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 325,036 shares of the pharmacy operator's stock after selling 43,061 shares during the period. Focus Partners Wealth's holdings in CVS Health were worth $22,021,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Janus Henderson Group PLC boosted its position in shares of CVS Health by 0.6% during the 4th quarter. Janus Henderson Group PLC now owns 765,186 shares of the pharmacy operator's stock valued at $34,352,000 after acquiring an additional 4,283 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of CVS Health by 34.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 340,269 shares of the pharmacy operator's stock worth $15,275,000 after buying an additional 86,715 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its position in shares of CVS Health by 18.6% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 53,458 shares of the pharmacy operator's stock worth $2,400,000 after buying an additional 8,375 shares during the period. Man Group plc grew its position in CVS Health by 230.3% in the fourth quarter. Man Group plc now owns 840,814 shares of the pharmacy operator's stock valued at $37,744,000 after acquiring an additional 586,270 shares during the period. Finally, Mufg Securities Americas Inc. bought a new stake in CVS Health in the fourth quarter valued at $834,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.22% of the stock is owned by insiders.

Analyst Ratings Changes

CVS has been the topic of a number of analyst reports. Wall Street Zen cut CVS Health from a "buy" rating to a "hold" rating in a research report on Saturday. Jefferies Financial Group increased their target price on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Morgan Stanley increased their target price on CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Cowen restated a "buy" rating on shares of CVS Health in a report on Monday, August 4th. Finally, Zacks Research cut CVS Health from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $77.89.

CVS Health Price Performance

Shares of CVS traded up $0.01 during mid-day trading on Tuesday, reaching $73.47. The company had a trading volume of 4,019,285 shares, compared to its average volume of 9,592,340. The company's 50 day simple moving average is $67.25 and its 200 day simple moving average is $66.38. The company has a market capitalization of $93.18 billion, a price-to-earnings ratio of 20.53, a P/E/G ratio of 0.83 and a beta of 0.62. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $75.55. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80.

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 (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.35. The firm had revenue of $98.92 billion during the quarter, compared to analyst estimates 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 was up 8.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Analysts expect that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

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

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.