Fulton Bank N.A. Decreases Stock Position in CVS Health Corporation $CVS

by · The Cerbat Gem

Fulton Bank N.A. reduced its holdings in shares of CVS Health Corporation (NYSE:CVS – Free Report) by 6.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 35,375 shares of the pharmacy operator’s stock after selling 2,428 shares during the period. Fulton Bank N.A.’s holdings in CVS Health were worth $2,440,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Jennison Associates LLC raised its position in shares of CVS Health by 503.8% during the 1st quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator’s stock worth $128,477,000 after purchasing an additional 1,582,257 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of CVS Health by 25.0% in the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator’s stock worth $43,920,000 after acquiring an additional 129,535 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of 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 acquiring an additional 183,813 shares in the last quarter. Brandywine Global Investment Management LLC boosted its stake in shares of CVS Health by 20.1% during 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 acquiring an additional 572,533 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in CVS Health by 122.5% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 565,152 shares of the pharmacy operator’s stock valued at $38,289,000 after purchasing an additional 311,098 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the subject of a number of recent research reports. Zacks Research downgraded shares of CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $78.00 price target on shares of CVS Health in a report on Tuesday, August 26th. Wall Street Zen cut CVS Health from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. Bernstein Bank reduced their target price on CVS Health from $78.00 to $72.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 16th. Finally, Cowen restated a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $77.89.

Read Our Latest Stock Analysis on CVS

Insider Activity at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the transaction, the director owned 22,156 shares of the company’s stock, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.22% of the stock is owned by insiders.

CVS Health Trading Up 0.7%

Shares of NYSE CVS opened at $74.00 on Thursday. The company has a market cap of $93.86 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 0.81 and a beta of 0.62. The stock’s 50 day simple moving average is $67.53 and its 200 day simple moving average is $66.48. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $75.55.

CVS Health (NYSE:CVS – Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.35. The firm had revenue of $98.92 billion for the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. CVS Health’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities research analysts expect that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health’s payout ratio is presently 74.30%.

CVS Health Profile

(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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