RNC Capital Management LLC Sells 4,517 Shares of CVS Health Corporation $CVS

RNC Capital Management LLC lessened its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 808,816 shares of the pharmacy operator's stock after selling 4,517 shares during the quarter. CVS Health makes up about 2.7% of RNC Capital Management LLC's holdings, making the stock its 13th largest position. RNC Capital Management LLC owned approximately 0.06% of CVS Health worth $55,792,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Harbor Asset Planning Inc. bought a new position in shares of CVS Health in the second quarter valued at approximately $30,000. Bell Investment Advisors Inc lifted its holdings in shares of CVS Health by 119.8% in the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator's stock valued at $31,000 after purchasing an additional 248 shares in the last quarter. Roxbury Financial LLC lifted its holdings in shares of CVS Health by 78.3% in the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 202 shares in the last quarter. ORG Partners LLC lifted its holdings in shares of CVS Health by 418.9% in the second quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 377 shares in the last quarter. Finally, Saudi Central Bank purchased a new stake in shares of CVS Health during the first quarter valued at approximately $34,000. Institutional investors own 80.66% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of CVS Health in a research report on Tuesday, October 14th. Bernstein Bank decreased their price target on CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a research report on Wednesday, July 16th. The Goldman Sachs Group assumed coverage on CVS Health in a research report on Tuesday, October 14th. They set a "buy" rating and a $91.00 price target for the company. Morgan Stanley increased their price target on CVS Health from $82.00 to $89.00 and gave the company an "overweight" rating in a research report on Tuesday, October 14th. Finally, Wolfe Research increased their price target on CVS Health from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $82.57.

Insider Transactions at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of CVS Health 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.22% of the company's stock.

CVS Health Price Performance

CVS Health stock opened at $82.08 on Thursday. CVS Health Corporation has a one year low of $43.56 and a one year high of $83.52. The business has a fifty day moving average price of $75.02 and a 200-day moving average price of $68.45. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The firm has a market capitalization of $104.11 billion, a P/E ratio of 22.93, a PEG ratio of 0.92 and a beta of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last posted 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 firm had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. During the same period last year, the company earned $1.83 earnings per share. The business'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, equities research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 annualized dividend and a yield of 3.2%. CVS Health's dividend payout ratio (DPR) is currently 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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