CVS Health Corporation $CVS Shares Sold by Westpac Banking Corp

by · The Cerbat Gem

Westpac Banking Corp lowered its stake in shares of CVS Health Corporation (NYSE:CVS – Free Report) by 14.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 12,577 shares of the pharmacy operator’s stock after selling 2,059 shares during the quarter. Westpac Banking Corp’s holdings in CVS Health were worth $868,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of CVS Health by 0.8% during the first quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator’s stock valued at $8,017,223,000 after buying an additional 969,027 shares during the last quarter. Dodge & Cox grew its holdings in CVS Health by 4.8% during the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock worth $4,976,856,000 after acquiring an additional 3,353,223 shares during the period. Geode Capital Management LLC lifted its stake in shares of CVS Health by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 28,635,233 shares of the pharmacy operator’s stock valued at $1,966,083,000 after purchasing an additional 675,824 shares during the period. Invesco Ltd. grew its position in shares of CVS Health by 13.2% during the 1st quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock valued at $1,383,039,000 after acquiring an additional 2,375,764 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of CVS Health by 14.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator’s stock worth $1,037,205,000 after buying an additional 1,942,886 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insiders Place Their Bets

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction 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 transaction, the director owned 22,156 shares of the company’s stock, valued at $1,573,519.12. This represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.22% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of several recent research reports. Zacks Research downgraded CVS Health from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Barclays lifted their price objective on CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. Wells Fargo & Company lowered their price objective on shares of CVS Health from $103.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday. Raymond James Financial raised their price target on CVS Health from $75.00 to $90.00 in a report on Friday, October 31st. Finally, Baird R W raised CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given 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 $89.41.

Check Out Our Latest Research Report on CVS Health

CVS Health Price Performance

CVS traded up $1.44 during midday trading on Monday, reaching $79.25. 310,729 shares of the company’s stock were exchanged, compared to its average volume of 9,139,579. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.62. The business’s 50-day moving average price is $77.70 and its 200 day moving average price is $69.96. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $85.15. The stock has a market capitalization of $100.60 billion, a PE ratio of 208.56, a P/E/G ratio of 0.87 and a beta of 0.60.

CVS Health (NYSE:CVS – Get Free Report) last posted its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $98.85 billion. During the same quarter in the prior year, the company earned $1.09 EPS. CVS Health’s revenue was up 7.8% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. As a group, equities analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 23rd were given 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 3.4%. CVS Health’s dividend payout ratio (DPR) is 700.00%.

About CVS Health

(Free Report)

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.

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