Symmetry Partners LLC Reduces Stock Position in CVS Health Corporation $CVS

Symmetry Partners LLC trimmed its position in shares of CVS Health Corporation (NYSE:CVS) by 11.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,685 shares of the pharmacy operator’s stock after selling 751 shares during the period. Symmetry Partners LLC’s holdings in CVS Health were worth $392,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its position in shares of CVS Health by 67.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 286,990 shares of the pharmacy operator’s stock valued at $12,883,000 after acquiring an additional 115,603 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of CVS Health by 41.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 4,719 shares of the pharmacy operator’s stock valued at $320,000 after purchasing an additional 1,381 shares during the period. Versant Capital Management Inc increased its stake in shares of CVS Health by 308.6% during the first quarter. Versant Capital Management Inc now owns 4,061 shares of the pharmacy operator’s stock valued at $275,000 after acquiring an additional 3,067 shares during the period. GAMMA Investing LLC boosted its stake in shares of CVS Health by 20,124.3% during the 1st quarter. GAMMA Investing LLC now owns 1,264,825 shares of the pharmacy operator’s stock valued at $85,692,000 after buying an additional 1,258,571 shares during the period. Finally, First County Bank CT bought a new position in CVS Health in the 1st quarter worth $210,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Activity

In related news, Director Anne A. Finucane sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the transaction, the director directly 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 can be accessed through this link. 1.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on CVS shares. Baird R W upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Wolfe Research boosted their price target on shares of CVS Health from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Wall Street Zen upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $78.00 target price on shares of CVS Health in a research report on Tuesday, August 26th. Finally, Zacks Research lowered shares of CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.25.

CVS Health Stock Up 1.6%

Shares of NYSE CVS opened at $75.80 on Friday. 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 Corporation has a 52-week low of $43.56 and a 52-week high of $77.34. The company’s 50 day moving average price is $69.13 and its 200-day moving average price is $66.99. The company has a market capitalization of $96.14 billion, a P/E ratio of 21.17, a price-to-earnings-growth ratio of 0.84 and a beta of 0.62.

CVS Health (NYSE:CVS) last posted 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 firm had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. During the same quarter in the prior year, the business posted $1.83 EPS. The business’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 analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 3.5%. CVS Health’s payout ratio 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.