CVS Health Corporation (NYSE:CVS) Shares Sold by TCTC Holdings LLC

Key Points

• TCTC Holdings LLC has reduced its stake in CVS Health Corporation by 2.0%, selling 7,600 shares and retaining 372,214 shares worth approximately $25.2 million.
• CVS Health reported a quarterly earnings per share (EPS) of $2.25, exceeding expectations, and generated $94.59 billion in revenue, which is up 7.0% year-over-year.
• The company announced a quarterly dividend of $0.665 per share, reflecting an annual yield of 4.46% and a payout ratio of 63.48%.

TCTC Holdings LLC reduced its position in CVS Health Corporation (NYSE:CVS - Free Report) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 372,214 shares of the pharmacy operator's stock after selling 7,600 shares during the quarter. TCTC Holdings LLC's holdings in CVS Health were worth $25,217,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Meeder Asset Management Inc. raised its position in shares of CVS Health by 11,769.9% in the 1st quarter. Meeder Asset Management Inc. now owns 41,782 shares of the pharmacy operator's stock worth $2,831,000 after buying an additional 41,430 shares during the period. Meeder Advisory Services Inc. increased its holdings in CVS Health by 22.9% in the 1st quarter. Meeder Advisory Services Inc. now owns 20,207 shares of the pharmacy operator's stock valued at $1,369,000 after purchasing an additional 3,761 shares in the last quarter. Fiera Capital Corp acquired a new stake in CVS Health in the 1st quarter valued at $276,000. Pinnacle Wealth Management Advisory Group LLC acquired a new stake in CVS Health in the 1st quarter valued at $231,000. Finally, Wincap Financial LLC increased its holdings in CVS Health by 29.9% in the 1st quarter. Wincap Financial LLC now owns 23,933 shares of the pharmacy operator's stock valued at $1,621,000 after purchasing an additional 5,510 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were bought 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 in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.22% of the company's stock.

CVS Health Stock Performance

NYSE CVS traded up $0.36 during trading hours on Tuesday, reaching $60.00. The company's stock had a trading volume of 11,023,857 shares, compared to its average volume of 6,834,479. The company has a current ratio of 0.82, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The business has a 50-day simple moving average of $64.48 and a 200 day simple moving average of $63.71. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51. The stock has a market cap of $75.90 billion, a PE ratio of 14.32, a PEG ratio of 0.85 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. The company had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 earnings per share. Equities research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd will be issued a dividend of $0.665 per share. The ex-dividend date is Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.43%. CVS Health's dividend payout ratio (DPR) is presently 63.48%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Truist Financial raised their target price on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Morgan Stanley restated an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Cowen restated a "buy" rating on shares of CVS Health in a research note on Monday, May 5th. Finally, Jefferies Financial Group raised their target price on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Two investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $74.82.

CVS Health Company 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.