US Bancorp DE Lowers Stock Position in CVS Health Corporation $CVS

US Bancorp DE lowered its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 5.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,328 shares of the pharmacy operator's stock after selling 11,061 shares during the period. US Bancorp DE's holdings in CVS Health were worth $12,784,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Jennison Associates LLC raised its holdings in CVS Health by 503.8% during the first quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock worth $128,477,000 after purchasing an additional 1,582,257 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. boosted its position in shares of CVS Health by 1.6% during the 2nd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 409,735 shares of the pharmacy operator's stock worth $28,264,000 after purchasing an additional 6,615 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of 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 purchasing an additional 129,535 shares in the last quarter. Bank of New York Mellon Corp grew its position in CVS Health by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock worth $608,481,000 after buying an additional 183,813 shares during the period. Finally, Brandywine Global Investment Management LLC boosted its stake in shares of CVS Health by 20.1% during the 1st quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator's stock worth $231,808,000 after acquiring an additional 572,533 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Performance

NYSE:CVS opened at $77.89 on Friday. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $79.20. The firm has a 50-day moving average of $72.28 and a two-hundred day moving average of $67.67. 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 stock has a market cap of $98.79 billion, a P/E ratio of 21.76, a PEG ratio of 0.86 and a beta of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, topping 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 net margin of 1.17% and a return on equity of 10.51%. The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

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

Insider Activity

In other news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction on 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 approximately $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CVS. Sanford C. Bernstein increased their price objective on shares of CVS Health from $72.00 to $77.00 and gave the company a "market perform" rating in a research note on Friday, September 5th. Robert W. Baird raised shares of CVS Health from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $71.00 to $82.00 in a research note on Thursday, August 14th. Mizuho raised their price target on CVS Health from $76.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday. Weiss Ratings restated a "hold (c-)" rating on shares of CVS Health in a report on Saturday, September 27th. Finally, Zacks Research downgraded shares of CVS Health from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Two investment 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $79.80.

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.

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