Dorsey & Whitney Trust CO LLC sells 3,218 CVS Health Co shares. (NYSE:CVS)

VaselineSeptember 11, 2024

0 3 minutes read

Dorsey & Whitney Trust CO LLC reduced its stake in CVS Health Co. (NYSE:CVS – Free Report) by 15.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,417 shares of the pharmacy operator’s stock after selling 3,218 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in CVS Health were worth $1,029,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CVS. Norges Bank bought a new stake in CVS Health in the fourth quarter valued at $1,092,040,000. Capital International Investors lifted its position in shares of CVS Health by 47.4% in the fourth quarter. Capital International Investors now owns 33,691,698 shares of the pharmacy operator’s stock worth $2,660,298,000 after buying an additional 10,837,801 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of CVS Health by 132.9% in the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after purchasing an additional 7,382,931 shares during the last quarter. Capital World Investors lifted its position in shares of CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after buying an additional 3,232,172 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of CVS Health by 306.6% during the fourth quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock worth $240,529,000 after buying an additional 2,297,100 shares during the last quarter. 80.66% of the shares are currently owned by institutional investors.

The Wall Street analyst weighs in

Several research firms recently weighed in on CVS. Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday. Baird RW upgraded CVS Health to a “hold” rating in a report on Thursday, May 30th. Evercore ISI reduced their price objective on CVS Health from $65.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Barclays cut their price objective on CVS Health from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.48.

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CVS Health Price Performance

Shares of CVS stock opened at $56.94 on Wednesday. CVS Health Co. it has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The firm has a market cap of $71.63 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 0.81 and a beta of 0.54. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66, and a current ratio of 0.86. The stock’s 50-day simple moving average is $58.25 and its 200-day simple moving average is $63.39.

CVS Health (NYSE:CVS – Get Free Report ) last issued its quarterly earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.10. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The company had revenue of $91.23 billion for the quarter, compared to analyst estimates of $91.41 billion. In the same quarter last year, the company earned $2.21 per share. The company’s revenue rose 2.6% year-on-year. As a group, equities analysts estimate that CVS Health Co. will post 6.51 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Monday, July 22nd were given a $0.665 dividend. The ex-dividend date was Monday, July 22. This represents a dividend of $2.66 on an annualized basis and a yield of 4.67%. CVS Health’s dividend payout ratio is currently 46.75%.

CVS Health Company Profile

(Free Report)

CVS Health Corporation provides healthcare solutions in the United States. It operates through the Health Care Benefits, Health Services, and Pharmacy & Consumer Health segments. The Healthcare Benefits segment offers traditional, voluntary and consumer-directed health insurance products and related services.