China Universal Asset Management Co. Ltd. Reduces Stock Position in CVS Health Corporation $CVS

China Universal Asset Management Co. Ltd. trimmed its position in CVS Health Corporation (NYSE:CVS) by 20.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,000 shares of the pharmacy operator’s stock after selling 7,871 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in CVS Health were worth $2,069,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avion Wealth boosted its position in CVS Health by 99.0% during the second quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock worth $26,000 after acquiring an additional 189 shares during the last quarter. Harbor Asset Planning Inc. purchased a new position in shares of CVS Health during the 2nd quarter worth $30,000. Bell Investment Advisors Inc boosted its holdings in shares of CVS Health by 119.8% during the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock worth $31,000 after purchasing an additional 248 shares during the last quarter. Front Row Advisors LLC grew its position in shares of CVS Health by 436.5% in the second quarter. Front Row Advisors LLC now owns 456 shares of the pharmacy operator’s stock valued at $31,000 after purchasing an additional 371 shares during the period. Finally, Roxbury Financial LLC increased its stake in CVS Health by 78.3% in the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 202 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on CVS. TD Cowen lifted their price target on CVS Health from $100.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings restated a “hold (c-)” rating on shares of CVS Health in a report on Monday, December 8th. Sanford C. Bernstein increased their price target on shares of CVS Health from $86.00 to $87.00 and gave the stock a “market perform” rating in a research note on Friday. Wall Street Zen lowered shares of CVS Health from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Robert W. Baird upped their price objective on CVS Health from $82.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday. Two 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. According to MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $93.71.

CVS Health Stock Performance

NYSE:CVS opened at $79.45 on Friday. The firm’s fifty day simple moving average is $78.97 and its 200 day simple moving average is $71.91. The company has a current ratio of 0.83, a quick ratio of 0.63 and a debt-to-equity ratio of 0.83. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $85.15. The firm has a market capitalization of $100.85 billion, a price-to-earnings ratio of 209.08, a PEG ratio of 0.78 and a beta of 0.48.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, October 29th. The pharmacy operator reported $1.60 EPS for the quarter, beating the consensus estimate of $1.36 by $0.24. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.The company had revenue of $102.87 billion for the quarter, compared to analyst estimates of $98.85 billion. During the same period last year, the company posted $1.09 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. As a group, equities research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Thursday, October 23rd. CVS Health’s payout ratio is presently 700.00%.

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.