Resources Management Corp CT ADV Lowers Stock Position in CVS Health Corporation $CVS

Key Points

• Resources Management Corp CT ADV reduced its stake in CVS Health Corporation by 29.5%, holding 59,775 shares valued at $4,050,000 after selling 25,032 shares during the first quarter.
• CVS Health reported $1.81 earnings per share for the latest quarter, exceeding analysts' expectations of $1.46, with revenue of $98.92 billion, a year-over-year increase of 8.4%.
• CVS Health announced a quarterly dividend of $0.665 per share, resulting in an annualized dividend of $2.66 and a dividend yield of 3.6%.

Resources Management Corp CT ADV decreased its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 29.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,775 shares of the pharmacy operator's stock after selling 25,032 shares during the quarter. Resources Management Corp CT ADV's holdings in CVS Health were worth $4,050,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in CVS Health by 0.8% in the first quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator's stock worth $8,017,223,000 after buying an additional 969,027 shares in the last quarter. Dodge & Cox boosted its stake in CVS Health by 4.8% in 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. boosted its stake in CVS Health by 13.2% in the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator's stock worth $1,383,039,000 after buying an additional 2,375,764 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in CVS Health by 14.5% in the first 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 buying an additional 1,942,886 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in CVS Health by 5.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator's stock worth $924,643,000 after buying an additional 728,924 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Trading Up 0.4%

Shares of CVS Health stock traded up $0.26 during midday trading on Friday, reaching $74.93. 3,608,935 shares of the company's stock traded hands, compared to its average volume of 9,619,129. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The company has a market cap of $95.04 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 0.82 and a beta of 0.62. The stock has a 50 day moving average of $66.96 and a 200-day moving average of $66.22. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $75.55.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. The company had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 3.5%. CVS Health's dividend payout ratio (DPR) is currently 74.30%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Robert W. Baird raised CVS Health from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $71.00 to $82.00 in a research note on Thursday, August 14th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $78.00 price objective on shares of CVS Health in a research report on Tuesday, August 26th. Cowen reiterated a "buy" rating on shares of CVS Health in a research report on Monday, August 4th. Jefferies Financial Group boosted their price objective on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Finally, Morgan Stanley boosted their price objective on CVS Health from $80.00 to $82.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Two equities research 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.89.

Insider Buying and Selling

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the transaction, the director 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.22% of the company's stock.

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.