Shell Asset Management Co. Acquires 15,491 Shares of CVS Health Corporation $CVS

Key Points

• Shell Asset Management Co. increased its stake in CVS Health Corporation by 33.5%, acquiring an additional 15,491 shares, bringing its total holdings to 61,776 shares worth approximately $4.26 million.
• CVS Health reported earnings of $1.81 per share for the latest quarter, exceeding analysts' expectations, with revenue of $98.92 billion, a year-over-year increase of 8.4%.
• The company declared a quarterly dividend of $0.665, yielding 3.4%, with the payment scheduled for November 3rd to investors of record as of October 23rd.

Shell Asset Management Co. raised its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 33.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,776 shares of the pharmacy operator's stock after acquiring an additional 15,491 shares during the quarter. Shell Asset Management Co.'s holdings in CVS Health were worth $4,261,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Bell Investment Advisors Inc grew its stake 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 buying an additional 248 shares in the last quarter. Roxbury Financial LLC boosted its position in CVS Health by 78.3% during the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 202 shares during the period. ORG Partners LLC increased 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 during the last quarter. Saudi Central Bank acquired a new position in shares of CVS Health in the first quarter valued at $34,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of CVS Health in the second quarter valued at $35,000. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Up 0.4%

CVS stock opened at $77.17 on Wednesday. The company has a market cap of $97.88 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 0.85 and a beta of 0.60. The business has a 50-day simple moving average of $71.39 and a 200 day simple moving average of $67.46. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $79.20. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74.

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, beating analysts' consensus estimates of $1.46 by $0.35. The business 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%.CVS Health's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Sell-side analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health's payout ratio is 74.30%.

Analyst Upgrades and Downgrades

CVS has been the topic of several research reports. Cowen reiterated a "buy" rating on shares of CVS Health in a report on Monday, August 4th. Wolfe Research upped their price objective 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. Bernstein Bank decreased their price objective on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a report on Wednesday, July 16th. Sanford C. Bernstein upped their price objective on shares of CVS Health from $72.00 to $77.00 and gave the company a "market perform" rating in a report on Friday, September 5th. Finally, Jefferies Financial Group lifted their target price on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, CVS Health has a consensus rating of "Moderate Buy" and a consensus target price of $79.20.

Insider Buying and Selling

In related news, Director Anne A. Finucane sold 7,500 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.22% of the stock is currently owned by company insiders.

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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