MetLife Investment Management LLC lessened its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 327,482 shares of the pharmacy operator's stock after selling 5,652 shares during the period. MetLife Investment Management LLC's holdings in CVS Health were worth $22,187,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Costello Asset Management INC increased its stake in shares of CVS Health by 281.3% in the 1st quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock valued at $39,000 after purchasing an additional 422 shares in the last quarter. Stone House Investment Management LLC purchased a new position in shares of CVS Health in the 1st quarter valued at about $39,000. GW&K Investment Management LLC increased its stake in CVS Health by 39.4% during the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock worth $43,000 after buying an additional 180 shares in the last quarter. Hemington Wealth Management increased its stake in CVS Health by 33.7% during the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock worth $46,000 after buying an additional 172 shares in the last quarter. Finally, McIlrath & Eck LLC increased its stake in CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after buying an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.
Insider Buying and Selling
In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the acquisition, the director owned 12,007 shares of the company's stock, valued at approximately $764,845.90. The trade was a 15.04% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.22% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. Truist Financial boosted their price objective on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. UBS Group upgraded CVS Health from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $67.00 to $79.00 in a research note on Monday, August 18th. Barclays boosted their price objective on CVS Health from $79.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Jefferies Financial Group boosted their price objective on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Finally, Royal Bank Of Canada boosted their price objective on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, CVS Health currently has an average rating of "Buy" and a consensus target price of $76.67.
Get Our Latest Report on CVS
CVS Health Trading Down 0.4%
Shares of CVS Health stock opened at $71.1740 on Monday. The stock has a market cap of $90.27 billion, a P/E ratio of 19.88, a P/E/G ratio of 0.79 and a beta of 0.58. The stock's 50 day simple moving average is $65.50 and its 200-day simple moving average is $65.25. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $72.51. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62.
CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $94.87 billion. During the same period in the previous year, the firm posted $1.83 EPS. 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. Analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.
CVS Health Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were issued a $0.665 dividend. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 3.7%. CVS Health's dividend payout ratio is currently 74.30%.
About CVS Health
(
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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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