Hsbc Holdings PLC reduced its position in CVS Health Corporation (NYSE:CVS - Free Report) by 2.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,544,621 shares of the pharmacy operator's stock after selling 71,273 shares during the period. Hsbc Holdings PLC owned 0.20% of CVS Health worth $172,225,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in CVS. Essex Financial Services Inc. lifted its stake 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 valued at $1,403,000 after purchasing an additional 166 shares during the last quarter. Hemington Wealth Management lifted its stake in shares of CVS Health by 33.7% in the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock valued at $46,000 after purchasing an additional 172 shares during the last quarter. McIlrath & Eck LLC lifted its stake in shares of CVS Health by 32.6% in the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 174 shares during the last quarter. Sumitomo Life Insurance Co. lifted its stake in shares of CVS Health by 1.0% in the 1st quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator's stock valued at $1,159,000 after purchasing an additional 174 shares during the last quarter. Finally, Koshinski Asset Management Inc. lifted its stake in shares of CVS Health by 3.7% in the 1st quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock valued at $334,000 after purchasing an additional 178 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, Director Guy P. Sansone purchased 1,570 shares of the company's stock in a transaction dated 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 transaction, the director owned 12,007 shares of the company's stock, valued at $764,845.90. This represents a 15.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.22% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on CVS shares. UBS Group raised CVS Health from a "neutral" rating to a "buy" rating and raised their price objective for the company from $67.00 to $79.00 in a research note on Monday. Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $71.00 to $82.00 in a report on Thursday, August 14th. Royal Bank Of Canada upped their price objective on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Jefferies Financial Group upped their price objective on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Finally, Baird R W raised CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $76.67.
Check Out Our Latest Research Report on CVS
CVS Health Price Performance
CVS opened at $70.9420 on Wednesday. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The business's fifty day simple moving average is $65.22 and its 200-day simple moving average is $64.86. The company has a market capitalization of $89.98 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 0.77 and a beta of 0.58.
CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $94.87 billion. During the same quarter in the prior year, the company earned $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. On average, equities research analysts anticipate 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 was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.7%. CVS Health's dividend payout ratio is presently 74.30%.
CVS Health Profile
(
Free Report)
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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