City State Bank Decreases Holdings in CVS Health Corporation $CVS

City State Bank reduced its stake in shares of CVS Health Corporation (NYSE:CVS) by 9.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,302 shares of the pharmacy operator’s stock after selling 245 shares during the quarter. City State Bank’s holdings in CVS Health were worth $159,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVS. Goldman Sachs Group Inc. lifted its stake in shares of CVS Health by 87.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator’s stock valued at $672,598,000 after purchasing an additional 4,632,530 shares during the period. Dodge & Cox grew its position in CVS Health by 4.8% during the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock valued at $4,976,856,000 after buying an additional 3,353,223 shares during the period. Nuveen LLC purchased a new position in shares of CVS Health during the 1st quarter valued at about $204,421,000. Invesco Ltd. raised its position in shares of CVS Health by 13.2% during the 1st quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock valued at $1,383,039,000 after purchasing an additional 2,375,764 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in CVS Health by 815.2% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,663,111 shares of the pharmacy operator’s stock worth $183,701,000 after purchasing an additional 2,372,121 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 1.1%

Shares of NYSE:CVS opened at $81.95 on Friday. The company’s 50 day moving average is $75.57 and its two-hundred day moving average is $68.67. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The company has a market cap of $103.94 billion, a PE ratio of 22.89, a P/E/G ratio of 0.89 and a beta of 0.60. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $83.52.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.35. The company had revenue of $98.92 billion during the quarter, compared to analysts’ expectations of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health’s dividend payout ratio is 74.30%.

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 stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the sale, the director 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.22% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CVS. Weiss Ratings restated a “hold (c)” rating on shares of CVS Health in a research report on Tuesday, October 14th. Wall Street Zen upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. Cowen reaffirmed a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Baird R W raised CVS Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Finally, UBS Group raised their target price on CVS Health from $79.00 to $96.00 and gave the company a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $83.38.

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.