Rehmann Capital Advisory Group Sells 10,194 Shares of CVS Health Corporation $CVS

Key Points

• Rehmann Capital Advisory Group reduced its stake in CVS Health by 49.9%, selling 10,194 shares, leaving it with a total of 10,233 shares valued at approximately $706,000.
• Multiple institutional investors, including Harbor Asset Planning Inc. and Bell Investment Advisors Inc., have made notable adjustments to their positions in CVS Health, with some increasing their stakes significantly.
• CVS Health announced a quarterly dividend of $0.665 per share, with an annualized yield of 3.3%, to be paid on November 3rd to shareholders of record by October 23rd.

Rehmann Capital Advisory Group reduced its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 49.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 10,233 shares of the pharmacy operator's stock after selling 10,194 shares during the period. Rehmann Capital Advisory Group's holdings in CVS Health were worth $706,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CVS. Harbor Asset Planning Inc. bought a new stake in CVS Health during the second quarter worth about $30,000. Bell Investment Advisors Inc raised its holdings in shares of CVS Health by 119.8% during the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator's stock valued at $31,000 after buying an additional 248 shares in the last quarter. Roxbury Financial LLC lifted its position in CVS Health by 78.3% in 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 boosted its stake in CVS Health by 418.9% in the second quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator's stock worth $32,000 after buying an additional 377 shares in the last quarter. Finally, Saudi Central Bank bought a new position in CVS Health during the first quarter valued at approximately $34,000. Institutional investors own 80.66% of the company's stock.

Insider Buying and Selling

In other news, Director Anne A. Finucane sold 7,500 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the sale, the director directly owned 22,156 shares of the company's stock, valued at approximately $1,573,519.12. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.22% of the company's stock.

Analysts Set New Price Targets

CVS has been the subject of a number of recent research reports. Wolfe Research boosted 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, September 22nd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $78.00 target price on shares of CVS Health in a research report on Tuesday, August 26th. Morgan Stanley upped their price target on shares of CVS Health from $82.00 to $89.00 and gave the company an "overweight" rating in a research report on Tuesday, October 14th. Sanford C. Bernstein lifted their price objective on CVS Health from $72.00 to $77.00 and gave the stock a "market perform" rating in a report on Friday, September 5th. Finally, Leerink Partners boosted their target price on CVS Health from $86.00 to $95.00 and gave the company an "outperform" rating in a research note on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.57.

CVS Health Stock Down 1.1%

NYSE CVS opened at $81.07 on Friday. The business's 50-day moving average is $75.31 and its 200 day moving average is $68.57. The stock has a market capitalization of $102.82 billion, a PE ratio of 22.64, a PEG ratio of 0.90 and a beta of 0.60. 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 Corporation has a 1 year low of $43.56 and a 1 year high of $83.52.

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 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 during the quarter, compared to analysts' expectations of $94.87 billion. During the same quarter last year, the business posted $1.83 EPS. The business's 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. Sell-side analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health's payout ratio is presently 74.30%.

CVS Health 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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