CVS Health Corporation $CVS Shares Sold by Abacus Planning Group Inc.

Abacus Planning Group Inc. cut its holdings in CVS Health Corporation (NYSE:CVS) by 10.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,360 shares of the pharmacy operator’s stock after selling 653 shares during the period. Abacus Planning Group Inc.’s holdings in CVS Health were worth $370,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bell Investment Advisors Inc raised its holdings in CVS Health by 119.8% in the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock valued at $31,000 after acquiring an additional 248 shares during the last quarter. Roxbury Financial LLC raised its holdings in CVS Health by 78.3% in the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 202 shares during the last quarter. ORG Partners LLC raised its holdings in CVS Health by 418.9% in the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 377 shares during the last quarter. Saudi Central Bank acquired a new position in CVS Health in the 1st quarter valued at $34,000. Finally, Livelsberger Financial Advisory acquired a new position in CVS Health in the 2nd quarter valued at $35,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Stock Up 0.8%

Shares of CVS Health stock opened at $77.48 on Friday. The company has a fifty day moving average price of $70.37 and a 200 day moving average price of $67.27. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $77.76. The stock has a market cap of $98.27 billion, a price-to-earnings ratio of 21.64, a price-to-earnings-growth ratio of 0.85 and a beta of 0.60.

CVS Health (NYSE:CVS) last announced 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. 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 analysts’ expectations of $94.87 billion. During the same period in the prior year, the company earned $1.83 EPS. The firm’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. Equities research 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 declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health’s dividend payout ratio is 74.30%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CVS shares. UBS Group upgraded CVS Health from a “neutral” rating to a “buy” rating and boosted their price target for the company from $67.00 to $79.00 in a report on Monday, August 18th. Sanford C. Bernstein upped their price objective on CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a report on Friday, September 5th. Wolfe Research upped their price objective on CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Zacks Research downgraded CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Finally, Baird R W upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $78.25.

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 dated Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the transaction, the director directly owned 22,156 shares of the company’s stock, valued at $1,573,519.12. This represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.22% of the company’s stock.

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.