Pallas Capital Advisors LLC Has $1.28 Million Stock Position in CVS Health Corporation $CVS

Key Points

• Pallas Capital Advisors LLC has reduced its stake in CVS Health Corporation by 39.8%, selling 12,290 shares and holding 18,587 shares worth approximately $1.28 million at the end of the last quarter.
• CVS Health's quarterly earnings showed an EPS of $1.81, surpassing analyst estimates of $1.46, with revenues reaching $98.92 billion, a 8.4% increase compared to the previous year.
• The company has announced a quarterly dividend of $0.665 per share, with an ex-dividend date set for October 23rd, reflecting a dividend yield of 3.6%.

Pallas Capital Advisors LLC trimmed its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 39.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,587 shares of the pharmacy operator's stock after selling 12,290 shares during the quarter. Pallas Capital Advisors LLC's holdings in CVS Health were worth $1,282,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its stake in shares of CVS Health by 87.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator's stock valued at $672,598,000 after buying an additional 4,632,530 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 valued at $4,976,856,000 after acquiring an additional 3,353,223 shares during the period. Nuveen LLC purchased a new stake in CVS Health during the first quarter valued at about $204,421,000. Assenagon Asset Management S.A. raised its holdings in shares of CVS Health by 310.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,523,824 shares of the pharmacy operator's stock worth $238,739,000 after purchasing an additional 2,666,029 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of 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 purchasing an additional 2,375,764 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Stock Performance

Shares of NYSE CVS traded up $0.36 during trading on Monday, reaching $75.28. The stock had a trading volume of 7,226,341 shares, compared to its average volume of 7,002,839. The stock has a market cap of $95.48 billion, a PE ratio of 21.03, a P/E/G ratio of 0.83 and a beta of 0.62. CVS Health Corporation has a one year low of $43.56 and a one year high of $76.24. The firm's 50 day moving average price is $68.13 and its two-hundred day moving average price is $66.70. 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 released its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $94.87 billion. During the same quarter 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. On average, research analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders 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 yield of 3.5%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health's dividend payout ratio is presently 74.30%.

Insider Buying and Selling at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the sale, the director directly owned 22,156 shares in the company, valued at $1,573,519.12. The trade was a 25.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.22% of the company's stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of research analyst reports. Barclays increased their target price on shares of CVS Health from $80.00 to $87.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Robert W. Baird raised shares of CVS Health from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $71.00 to $82.00 in a research report on Thursday, August 14th. 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. Bernstein Bank lowered their price target on CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a report on Wednesday, July 16th. Finally, Zacks Research cut CVS Health from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $78.25.

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.