SRB Corp Decreases Stock Holdings in CVS Health Corporation $CVS

Key Points

• SRB Corp has reduced its holdings in CVS Health by 40.0%, selling 452,658 shares and now holding 678,988 shares, which represents about 3.0% of its portfolio.
• In its latest quarterly earnings, CVS Health reported an EPS of $1.81, exceeding analyst estimates of $1.46, and achieved revenue of $98.92 billion.
• The company recently declared a quarterly dividend of $0.665, resulting in an annualized yield of 3.8%.

SRB Corp lessened its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 40.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 678,988 shares of the pharmacy operator's stock after selling 452,658 shares during the quarter. CVS Health comprises about 3.0% of SRB Corp's investment portfolio, making the stock its 15th biggest holding. SRB Corp owned 0.05% of CVS Health worth $46,001,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of 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 during the last quarter. Invesco Ltd. boosted its holdings in shares of 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of CVS Health by 14.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,366,403 shares of the pharmacy operator's stock worth $600,019,000 after buying an additional 1,660,321 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of CVS Health by 0.5% in the first quarter. Northern Trust Corp now owns 12,555,958 shares of the pharmacy operator's stock worth $850,666,000 after buying an additional 64,002 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

Insider Activity at CVS Health

In related news, Director Guy P. Sansone bought 1,570 shares of the stock in a transaction dated Thursday, June 5th. The shares were purchased at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the acquisition, the director owned 12,007 shares of the company's stock, valued at $764,845.90. This represents a 15.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.22% of the company's stock.

CVS Health Price Performance

Shares of CVS traded down $0.2560 during mid-day trading on Friday, reaching $71.1740. The stock had a trading volume of 6,982,068 shares, compared to its average volume of 8,748,738. The firm has a market cap of $90.27 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 0.79 and a beta of 0.58. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $72.51. The business has a fifty day moving average of $65.50 and a 200 day moving average of $65.11. 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 earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping the consensus estimate of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The firm had revenue of $98.92 billion for the quarter, compared to the consensus estimate of $94.87 billion. During the same quarter in the previous year, the firm earned $1.83 earnings per share. The company's quarterly revenue 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. Equities analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's payout ratio is 74.30%.

Wall Street Analysts Forecast Growth

CVS has been the topic of a number of research reports. Jefferies Financial Group raised their price objective on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Wells Fargo & Company reissued an "overweight" rating and issued a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Royal Bank Of Canada raised their price objective on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Barclays raised their price objective on shares of CVS Health from $79.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Robert W. Baird upgraded shares of CVS Health from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $71.00 to $82.00 in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, CVS Health presently has a consensus rating of "Buy" and an average target price of $76.67.

About CVS Health

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.