Narwhal Capital Management Decreases Stake in CVS Health Corporation $CVS

Key Points

• Narwhal Capital Management has reduced its stake in CVS Health Corporation by 59.9%, owning only 4,519 shares after selling 6,750 shares in the second quarter.
• CVS Health reported earnings of $1.81 per share, exceeding estimates, and achieved a revenue of $98.92 billion for the quarter, up 8.4% year-over-year.
• CVS Health has announced a quarterly dividend of $0.665 per share, representing a yield of 3.5%, with the ex-dividend date set for October 23rd.

Narwhal Capital Management reduced its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 59.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,519 shares of the pharmacy operator's stock after selling 6,750 shares during the quarter. Narwhal Capital Management's holdings in CVS Health were worth $312,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bell Investment Advisors Inc raised its position in CVS Health by 119.8% during the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator's stock worth $31,000 after buying an additional 248 shares during the last quarter. Roxbury Financial LLC raised its position in CVS Health by 78.3% during the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator's stock worth $32,000 after buying an additional 202 shares during the last quarter. ORG Partners LLC raised its position in CVS Health by 418.9% during the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator's stock worth $32,000 after buying an additional 377 shares during the last quarter. Saudi Central Bank purchased a new position in CVS Health during the 1st quarter worth approximately $34,000. Finally, Livelsberger Financial Advisory purchased a new position in CVS Health during the 2nd quarter worth approximately $35,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health 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 sale, the director owned 22,156 shares of the company's stock, valued at $1,573,519.12. The trade was a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.22% of the stock is currently owned by company insiders.

CVS Health Price Performance

CVS Health stock opened at $76.94 on Thursday. The company's fifty day moving average price is $71.68 and its 200 day moving average price is $67.52. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $79.20. The stock has a market capitalization of $97.59 billion, a P/E ratio of 21.49, a P/E/G ratio of 0.85 and a beta of 0.60. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping 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 company had revenue of $98.92 billion for the quarter, compared to analysts' expectations of $94.87 billion. During the same quarter in the previous year, the company posted $1.83 EPS. The firm's quarterly 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, 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 firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health's payout ratio is 74.30%.

Analysts Set New Price Targets

A number of research firms have issued reports on CVS. Jefferies Financial Group raised their price target on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. UBS Group raised shares of CVS Health from a "neutral" rating to a "buy" rating and raised their price target for the stock from $67.00 to $79.00 in a research report on Monday, August 18th. Baird R W raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Barclays lifted their target price on shares of CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Finally, Wolfe Research lifted their target price on shares of CVS Health from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, CVS Health has a consensus rating of "Moderate Buy" and an average target price of $79.20.

About CVS Health

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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