CVS Health Corporation $CVS Holdings Reduced by AlTi Global Inc.

AlTi Global Inc. cut its holdings in shares of CVS Health Corporation (NYSE:CVS) by 6.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,306 shares of the pharmacy operator’s stock after selling 5,344 shares during the period. AlTi Global Inc.’s holdings in CVS Health were worth $5,246,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in CVS. Avion Wealth increased its holdings in shares of CVS Health by 99.0% during the second quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock valued at $26,000 after purchasing an additional 189 shares during the period. Harbor Asset Planning Inc. acquired a new position in CVS Health during the 2nd quarter valued at about $30,000. Bell Investment Advisors Inc raised its position in shares of CVS Health by 119.8% during the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock worth $31,000 after buying an additional 248 shares in the last quarter. Roxbury Financial LLC lifted its stake in shares of CVS Health by 78.3% in the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 202 shares during the period. Finally, ORG Partners LLC boosted its holdings in shares of CVS Health by 418.9% in the second quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 377 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

NYSE CVS opened at $81.07 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $102.82 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 0.90 and a beta of 0.60. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $83.52. The company has a 50 day moving average price of $75.31 and a two-hundred day moving average price of $68.57.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.35. The firm had revenue of $98.92 billion during the quarter, compared to analysts’ expectations of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. CVS Health’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be paid a $0.665 dividend. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.3%. CVS Health’s payout ratio is presently 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 shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the sale, the director directly owned 22,156 shares in the company, valued at $1,573,519.12. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Bernstein Bank decreased their price target on CVS Health from $78.00 to $72.00 and set a “market perform” rating for the company in a research note on Wednesday, July 16th. Truist Financial set a $92.00 target price on shares of CVS Health in a report on Tuesday, October 14th. Zacks Research cut CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Cowen reaffirmed a “buy” rating on shares of CVS Health in a research report on Monday, August 4th. Finally, Jefferies Financial Group lifted their price target on CVS Health from $80.00 to $92.00 in a research note on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned 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 $82.57.

CVS Health 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.