Greenwood Capital Associates LLC Invests $1.31 Million in CVS Health Corporation $CVS

Key Points

• Greenwood Capital Associates LLC invested approximately $1.31 million in CVS Health Corporation, acquiring 18,935 shares in a move reflecting renewed investor interest.
• The company reported strong earnings, with an EPS of $1.81, surpassing expectations and indicating a solid revenue growth of 8.4% year-over-year.
• CVS Health declared a quarterly dividend of $0.665 per share, representing an annualized yield of 3.4%, highlighting the company's commitment to returning value to shareholders.

Greenwood Capital Associates LLC acquired a new position in CVS Health Corporation (NYSE:CVS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 18,935 shares of the pharmacy operator's stock, valued at approximately $1,306,000.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in CVS Health by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator's stock worth $8,017,223,000 after purchasing an additional 969,027 shares during the last quarter. Dodge & Cox grew its position in CVS Health by 4.8% during the 1st quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator's stock worth $4,976,856,000 after purchasing an additional 3,353,223 shares during the last quarter. Invesco Ltd. grew its position in CVS Health by 13.2% during the 1st quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator's stock worth $1,383,039,000 after purchasing an additional 2,375,764 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in CVS Health by 14.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator's stock worth $1,037,205,000 after purchasing an additional 1,942,886 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in CVS Health by 5.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator's stock worth $924,643,000 after purchasing an additional 728,924 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Stock Performance

CVS opened at $77.48 on Friday. 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 firm has a fifty day moving average price of $70.37 and a 200 day moving average price of $67.27. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $77.76. The stock has a market cap of $98.27 billion, a P/E ratio of 21.64, a P/E/G ratio of 0.85 and a beta of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last posted its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The firm had revenue of $98.92 billion during the quarter, compared to analysts' expectations of $94.87 billion. During the same period in the previous year, the business posted $1.83 EPS. The business's revenue 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. Equities research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be given a dividend of $0.665 per share. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.4%. CVS Health's dividend payout ratio is currently 74.30%.

Analyst Upgrades and Downgrades

CVS has been the topic of several research analyst reports. UBS Group raised shares of CVS Health from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $67.00 to $79.00 in a research report on Monday, August 18th. Robert W. Baird raised shares of CVS Health from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $71.00 to $82.00 in a report on Thursday, August 14th. Jefferies Financial Group upped their price objective on shares of CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a report on Monday, June 30th. Zacks Research downgraded shares of CVS Health from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Finally, Cowen reaffirmed a "buy" rating on shares of CVS Health in a report on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $78.25.

Insiders Place Their Bets

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the transaction, the director directly owned 22,156 shares in the company, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.22% of the company's stock.

CVS Health Company 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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