Vident Advisory LLC Has $1.31 Million Stock Position in CVS Health Corporation $CVS

Key Points

• Vident Advisory LLC reduced its stake in CVS Health Corporation by 42%, selling 13,967 shares to hold a total of 19,266 shares valued at approximately $1.3 million.
• CVS Health reported earnings of $1.81 per share for the last quarter, exceeding analyst expectations of $1.46, and reported revenue of $98.92 billion.
• A recent quarterly dividend of $0.665 per share was paid, resulting in an annualized dividend of $2.66 and a yield of 3.6%.

Vident Advisory LLC cut its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 42.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,266 shares of the pharmacy operator's stock after selling 13,967 shares during the period. Vident Advisory LLC's holdings in CVS Health were worth $1,305,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CVS. McIlrath & Eck LLC boosted its position in shares of CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after buying an additional 174 shares during the period. Costello Asset Management INC lifted its position in CVS Health by 281.3% in the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock worth $39,000 after purchasing an additional 422 shares during the period. Stone House Investment Management LLC acquired a new stake in CVS Health in the first quarter worth approximately $39,000. Park Square Financial Group LLC acquired a new stake in CVS Health in the fourth quarter worth approximately $43,000. Finally, GW&K Investment Management LLC lifted its position in CVS Health by 39.4% in the first quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock worth $43,000 after purchasing an additional 180 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on CVS. Truist Financial increased their target price on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Baird R W upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Barclays increased their price objective on CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and increased their price objective for the company 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 given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, CVS Health currently has an average rating of "Buy" and a consensus price target of $77.89.

CVS Health Stock Up 0.1%

NYSE:CVS traded up $0.07 during trading hours on Friday, reaching $73.76. The company's stock had a trading volume of 5,074,859 shares, compared to its average volume of 5,804,935. 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 company has a market cap of $93.56 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 0.81 and a beta of 0.62. CVS Health Corporation has a one year low of $43.56 and a one year high of $74.53. The business's 50-day moving average is $66.60 and its 200-day moving average is $66.00.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The company had revenue of $98.92 billion for the quarter, compared to the consensus estimate of $94.87 billion. During the same period last year, the business posted $1.83 earnings per share. The firm's 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 research analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.6%. The ex-dividend date was Tuesday, July 22nd. CVS Health's payout ratio is 74.30%.

Insiders Place Their Bets

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the sale, the director owned 22,156 shares in the company, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.22% of the stock is owned by company insiders.

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.