CVS Health Corporation $CVS Position Lessened by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC reduced its stake in CVS Health by 6.5%, selling 28,500 shares and retaining 407,000 shares worth approximately $27.57 million.
• In recent transactions, CVS Health's Director purchased 1,570 shares for $63.70 each, increasing his position by 15.04% to a total of 12,007 shares.
• CVS Health recently announced a quarterly dividend of $0.665 per share, reflecting a yield of 3.7% with a payout ratio of 74.30%.

Gabelli Funds LLC lowered its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 6.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 407,000 shares of the pharmacy operator's stock after selling 28,500 shares during the period. Gabelli Funds LLC's holdings in CVS Health were worth $27,574,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CVS. Essex Financial Services Inc. lifted its position in shares of CVS Health by 0.8% in the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock worth $1,403,000 after purchasing an additional 166 shares during the period. Hemington Wealth Management boosted its holdings in shares of CVS Health by 33.7% in the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock worth $46,000 after buying an additional 172 shares during the last quarter. McIlrath & Eck LLC lifted its holdings in CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. Sumitomo Life Insurance Co. lifted its holdings in shares of CVS Health by 1.0% in the first quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator's stock worth $1,159,000 after buying an additional 174 shares in the last quarter. Finally, Koshinski Asset Management Inc. lifted its holdings in shares of CVS Health by 3.7% in the first quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock worth $334,000 after buying an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CVS. Cantor Fitzgerald reiterated an "overweight" rating and set a $78.00 price objective on shares of CVS Health in a research report on Tuesday, August 26th. Robert W. Baird raised shares of CVS Health from a "neutral" rating to an "outperform" rating and increased their price target for the company from $71.00 to $82.00 in a research report on Thursday, August 14th. Royal Bank Of Canada increased their price target on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Finally, Morgan Stanley raised their target price on CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $77.56.

CVS Health Price Performance

CVS Health stock traded up $1.03 during trading hours on Friday, hitting $73.17. The stock had a trading volume of 6,391,563 shares, compared to its average volume of 6,356,917. 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 stock has a market capitalization of $92.80 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 0.81 and a beta of 0.58. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $73.23. The stock's fifty day moving average is $66.00 and its two-hundred day moving average is $65.73.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating 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 business had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same quarter last year, the company earned $1.83 earnings per share. The business's revenue for the quarter 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 business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders 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 dividend yield of 3.6%. CVS Health's dividend payout ratio (DPR) is 74.30%.

Insider Transactions at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the 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 completion of the sale, the director owned 22,156 shares in the company, valued at approximately $1,573,519.12. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Guy P. Sansone acquired 1,570 shares of the stock in a transaction on Thursday, June 5th. The shares were acquired at an average price of $63.70 per share, with a total value of $100,009.00. Following the purchase, the director owned 12,007 shares in the company, valued at $764,845.90. This represents a 15.04% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.22% of the stock is currently owned by company insiders.

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.