Eastern Bank Sells 1,343 Shares of CVS Health Corporation $CVS

Eastern Bank lowered its position in CVS Health Corporation (NYSE:CVS) by 11.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,973 shares of the pharmacy operator’s stock after selling 1,343 shares during the period. Eastern Bank’s holdings in CVS Health were worth $688,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CVS. GAMMA Investing LLC grew its holdings in shares of CVS Health by 198.5% in the first quarter. GAMMA Investing LLC now owns 18,669 shares of the pharmacy operator’s stock worth $1,265,000 after acquiring an additional 12,415 shares during the period. Simon Quick Advisors LLC bought a new stake in CVS Health during the first quarter valued at about $543,000. Fifth Third Bancorp grew its holdings in CVS Health by 4.6% during the first quarter. Fifth Third Bancorp now owns 169,749 shares of the pharmacy operator’s stock valued at $11,500,000 after purchasing an additional 7,410 shares during the period. GPS Wealth Strategies Group LLC grew its holdings in CVS Health by 37.5% during the first quarter. GPS Wealth Strategies Group LLC now owns 1,761 shares of the pharmacy operator’s stock valued at $119,000 after purchasing an additional 480 shares during the period. Finally, Krilogy Financial LLC bought a new stake in CVS Health during the first quarter valued at about $1,046,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of CVS Health stock opened at $77.89 on Friday. The stock’s 50-day simple moving average is $72.28 and its 200-day simple moving average is $67.67. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $79.20. The company has a market capitalization of $98.79 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 0.86 and a beta of 0.60. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS 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 analyst estimates 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 was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders 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 dividend yield of 3.4%. The ex-dividend date is Thursday, October 23rd. CVS Health’s dividend payout ratio is currently 74.30%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CVS shares. Sanford C. Bernstein boosted their price target on CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a report on Friday, September 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $78.00 price target on shares of CVS Health in a report on Tuesday, August 26th. Wells Fargo & Company boosted their price target on CVS Health from $84.00 to $103.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays boosted their price target on CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, September 4th. Finally, Jefferies Financial Group boosted their price objective on CVS Health from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.80.

Insider Activity at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the 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. This represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.22% of the company’s stock.

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.