Fifth Third Wealth Advisors LLC Sells 1,709 Shares of CVS Health Corporation $CVS

Fifth Third Wealth Advisors LLC trimmed its holdings in CVS Health Corporation (NYSE:CVS) by 13.6% in the second quarter, Holdings Channel reports. The fund owned 10,869 shares of the pharmacy operator’s stock after selling 1,709 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in CVS Health were worth $750,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its holdings in shares of CVS Health by 503.8% in the first quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator’s stock valued at $128,477,000 after purchasing an additional 1,582,257 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. raised its holdings in CVS Health by 1.6% during the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 409,735 shares of the pharmacy operator’s stock worth $28,264,000 after acquiring an additional 6,615 shares in the last quarter. Cerity Partners LLC raised its stake in CVS Health by 25.0% in the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator’s stock valued at $43,920,000 after buying an additional 129,535 shares during the period. Bank of New York Mellon Corp raised its stake in CVS Health by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator’s stock valued at $608,481,000 after buying an additional 183,813 shares during the period. Finally, Brandywine Global Investment Management LLC raised its stake in CVS Health by 20.1% in the first quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator’s stock valued at $231,808,000 after buying an additional 572,533 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

CVS stock opened at $77.89 on Monday. The company has a market capitalization of $98.79 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 0.86 and a beta of 0.60. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $79.20. The business has a 50-day simple moving average of $72.28 and a two-hundred day simple moving average of $67.67.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.35. The business had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Research analysts expect that CVS Health Corporation will post 5.89 EPS 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 $0.665 dividend. 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 payout ratio is presently 74.30%.

Analysts Set New Price Targets

CVS has been the topic of several research reports. Robert W. Baird raised CVS Health from a “neutral” rating to an “outperform” rating and upped their target price for the company from $71.00 to $82.00 in a research report on Thursday, August 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of CVS Health in a report on Saturday, September 27th. UBS Group raised CVS Health from a “neutral” rating to a “buy” rating and raised their price objective for the company from $67.00 to $79.00 in a report on Monday, August 18th. Baird R W raised CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. Finally, Wolfe Research lifted their price objective on CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $79.80.

Insider Buying and Selling at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction that occurred 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 owned 22,156 shares of the company’s stock, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.22% of the stock is owned by insiders.

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.