CVS Health Corporation $CVS Holdings Trimmed by M&T Bank Corp

M&T Bank Corp reduced its holdings in CVS Health Corporation (NYSE:CVS) by 9.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,643 shares of the pharmacy operator’s stock after selling 16,646 shares during the quarter. M&T Bank Corp’s holdings in CVS Health were worth $11,357,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CVS. Harbour Investments Inc. raised its stake in CVS Health by 8.5% during the 1st quarter. Harbour Investments Inc. now owns 5,877 shares of the pharmacy operator’s stock valued at $398,000 after purchasing an additional 461 shares during the period. Advyzon Investment Management LLC bought a new position in CVS Health during the first quarter valued at approximately $206,000. Costello Asset Management INC lifted its stake in CVS Health by 281.3% in the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator’s stock valued at $39,000 after acquiring an additional 422 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its position in CVS Health by 19.0% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 3,198 shares of the pharmacy operator’s stock worth $217,000 after acquiring an additional 510 shares in the last quarter. Finally, Wealthspire Advisors LLC increased its stake in shares of CVS Health by 3.7% during the 1st quarter. Wealthspire Advisors LLC now owns 16,550 shares of the pharmacy operator’s stock worth $1,121,000 after purchasing an additional 588 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CVS. Argus lifted their price objective on shares of CVS Health from $80.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Wall Street Zen downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. TD Cowen boosted their price objective on CVS Health from $99.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Jefferies Financial Group increased their target price on CVS Health from $92.00 to $98.00 in a research note on Thursday, October 30th. Finally, Baird R W raised CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.52.

CVS Health Stock Down 3.2%

CVS stock opened at $75.15 on Thursday. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $85.15. The company has a quick ratio of 0.63, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. The company has a market cap of $95.39 billion, a PE ratio of 197.76, a price-to-earnings-growth ratio of 0.77 and a beta of 0.48. The business’s 50-day simple moving average is $78.71 and its 200 day simple moving average is $71.11.

CVS Health (NYSE:CVS) last posted its quarterly earnings results 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 firm had revenue of $102.87 billion during the quarter, compared to analysts’ expectations of $98.85 billion. During the same quarter in the prior year, the firm posted $1.09 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. On average, research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd were paid a dividend of $0.665 per share. The ex-dividend date was Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.5%. CVS Health’s payout ratio is currently 700.00%.

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.