Meyer Handelman Co. Sells 22,493 Shares of CVS Health Corporation $CVS

Meyer Handelman Co. trimmed its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 27.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,468 shares of the pharmacy operator's stock after selling 22,493 shares during the quarter. Meyer Handelman Co.'s holdings in CVS Health were worth $4,102,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CVS. Vanguard Group Inc. increased its holdings in shares of 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 period. Dodge & Cox grew its position in CVS Health by 4.8% during the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator's stock worth $4,976,856,000 after buying an additional 3,353,223 shares in the last quarter. Invesco Ltd. raised its holdings in CVS Health by 13.2% in the 1st quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator's stock valued at $1,383,039,000 after acquiring an additional 2,375,764 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of CVS Health by 14.5% in 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 acquiring an additional 1,942,886 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of 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 in the last quarter. Institutional investors own 80.66% of the company's stock.

Insider Transactions at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction dated Wednesday, August 20th. The shares were 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 of the company's stock, valued at $1,573,519.12. This represents a 25.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and upped their target price for the company from $71.00 to $82.00 in a research note on Thursday, August 14th. Wolfe Research raised their price objective on shares of CVS Health from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Monday. Cantor Fitzgerald reissued an "overweight" rating and issued a $78.00 target price on shares of CVS Health in a research note on Tuesday, August 26th. Morgan Stanley raised their price target on shares of CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Sanford C. Bernstein lifted their price objective on CVS Health from $72.00 to $77.00 and gave the company a "market perform" rating in a report on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $78.25.

CVS Health Stock Performance

NYSE:CVS opened at $74.71 on Friday. The stock has a market capitalization of $94.75 billion, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 0.84 and a beta of 0.62. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $77.34. The firm has a 50 day moving average of $68.85 and a 200-day moving average of $66.90.

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, 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 analyst estimates of $94.87 billion. During the same period in the prior year, the company earned $1.83 EPS. CVS Health's revenue for the quarter 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, sell-side analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health's payout ratio is currently 74.30%.

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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