Great Lakes Advisors LLC Has $14.96 Million Stock Position in CVS Health Corporation $CVS

Key Points

• Great Lakes Advisors LLC has reduced its stake in CVS Health Corporation by 1.7%, now owning 220,855 shares valued at approximately $14.96 million.
• CVS Health's stock has seen mixed ratings from analysts, with an average price target of $77.89 and various opinions on its growth potential.
• CVS recently declared a quarterly dividend of $0.665, yielding 3.8% annually, reflecting its commitment to returning value to shareholders.

Great Lakes Advisors LLC decreased its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 220,855 shares of the pharmacy operator's stock after selling 3,770 shares during the period. Great Lakes Advisors LLC's holdings in CVS Health were worth $14,963,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jennison Associates LLC increased its stake in shares of 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 purchasing an additional 1,582,257 shares during the last quarter. Cerity Partners LLC increased its stake in shares of CVS Health by 25.0% in the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock valued at $43,920,000 after purchasing an additional 129,535 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of CVS Health by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock valued at $608,481,000 after purchasing an additional 183,813 shares during the last quarter. Brandywine Global Investment Management LLC increased its stake in shares of CVS Health by 20.1% in the 1st quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator's stock valued at $231,808,000 after purchasing an additional 572,533 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its position in 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 acquiring an additional 311,098 shares during the last quarter. Institutional investors own 80.66% of the company's stock.

Insider Activity at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the sale, the director owned 22,156 shares in the company, valued at $1,573,519.12. This represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.22% of the stock is currently owned by insiders.

CVS Health Trading Up 0.4%

Shares of NYSE CVS traded up $0.33 during trading on Friday, reaching $75.00. The company had a trading volume of 6,400,711 shares, compared to its average volume of 6,810,735. The company's fifty day moving average price is $67.11 and its 200-day moving average price is $66.33. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $75.55. The stock has a market cap of $95.12 billion, a P/E ratio of 20.95, a PEG ratio of 0.83 and a beta of 0.62. 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 released its quarterly 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. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same quarter in the previous year, the company posted $1.83 EPS. The business'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. As a group, research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.5%. CVS Health's dividend payout ratio is presently 74.30%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CVS shares. Bernstein Bank reduced their price objective on CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 16th. Barclays boosted their price objective on CVS Health from $80.00 to $87.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Cowen restated a "buy" rating on shares of CVS Health in a research report on Monday, August 4th. Wall Street Zen lowered CVS Health from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Baird R W upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.89.

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.