Truist Financial Corp Has $14.41 Million Stock Holdings in CVS Health Corporation $CVS

Key Points

• Truist Financial Corp reduced its stake in CVS Health by 1.6%, holding 208,871 shares valued at $14.41 million at the end of the most recent reporting period.
• CVS Health's quarterly dividend of $0.665 is set to be paid on November 3rd, representing a 3.4% yield for shareholders as part of an annualized payout of $2.66.
• Analysts have a Moderate Buy rating on CVS Health, with an average price target of $78.25, following recent upgrades from firms such as Baird and Jefferies.

Truist Financial Corp trimmed its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,871 shares of the pharmacy operator's stock after selling 3,472 shares during the quarter. Truist Financial Corp's holdings in CVS Health were worth $14,408,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its position in CVS Health by 503.8% in the 1st quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock valued at $128,477,000 after acquiring an additional 1,582,257 shares during the period. Cerity Partners LLC increased its position in CVS Health by 25.0% in the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock valued at $43,920,000 after acquiring an additional 129,535 shares during the period. Bank of New York Mellon Corp increased its position in CVS Health by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock valued at $608,481,000 after acquiring an additional 183,813 shares during the period. Brandywine Global Investment Management LLC increased its position in CVS Health by 20.1% in the 1st quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator's stock valued at $231,808,000 after acquiring an additional 572,533 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its position in CVS Health by 122.5% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 565,152 shares of the pharmacy operator's stock valued at $38,289,000 after acquiring an additional 311,098 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CVS Health

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 shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the transaction, the director directly 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 this hyperlink. Company insiders own 1.22% of the company's stock.

Analyst Upgrades and Downgrades

CVS has been the subject of several recent research reports. Baird R W upgraded shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $78.00 price objective on shares of CVS Health in a research note on Tuesday, August 26th. Jefferies Financial Group upped their price objective on shares of CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Morgan Stanley upped their price objective on shares of CVS Health from $80.00 to $82.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of CVS Health in a research note on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, CVS Health presently has an average rating of "Moderate Buy" and an average price target of $78.25.

CVS Health Stock Up 0.1%

Shares of NYSE CVS opened at $77.51 on Friday. The firm has a market cap of $98.31 billion, a PE ratio of 21.65, a P/E/G ratio of 0.85 and a beta of 0.60. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $79.20. The company's fifty day simple moving average is $70.71 and its 200 day simple moving average is $67.33. 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 issued its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (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 business had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same period in the prior year, the firm earned $1.83 earnings per share. CVS Health's revenue 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, sell-side analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders 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 dividend yield of 3.4%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health's dividend payout ratio (DPR) is 74.30%.

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.

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