TrueMark Investments LLC Buys New Holdings in CVS Health Corporation $CVS

TrueMark Investments LLC bought a new stake in shares of CVS Health Corporation (NYSE:CVS) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 73,063 shares of the pharmacy operator’s stock, valued at approximately $5,040,000. CVS Health accounts for 1.1% of TrueMark Investments LLC’s holdings, making the stock its 25th largest position.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in CVS Health by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator’s stock worth $8,017,223,000 after acquiring an additional 969,027 shares during the last quarter. Dodge & Cox increased its stake in CVS Health by 4.8% in the 1st 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 last quarter. Invesco Ltd. increased its stake in CVS Health by 13.2% in the 1st quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock worth $1,383,039,000 after acquiring an additional 2,375,764 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in CVS Health by 14.5% in 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 acquiring an additional 1,942,886 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in CVS Health by 5.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator’s stock worth $924,643,000 after acquiring an additional 728,924 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS opened at $82.64 on Friday. The business has a fifty day moving average of $74.00 and a 200 day moving average of $68.12. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $82.88. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The stock has a market cap of $104.81 billion, a P/E ratio of 23.08, a PEG ratio of 0.91 and a beta of 0.60.

CVS Health (NYSE:CVS) last posted its quarterly earnings data 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 company had revenue of $98.92 billion during the quarter, compared to analysts’ expectations of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.CVS Health’s revenue was up 8.4% compared to the same quarter last year. 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. As a group, sell-side analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.2%. CVS Health’s payout ratio is 74.30%.

Analyst Ratings Changes

A number of equities analysts have recently commented on CVS shares. Bernstein Bank dropped their target price on CVS Health from $78.00 to $72.00 and set a “market perform” rating for the company in a report on Wednesday, July 16th. UBS Group upgraded CVS Health from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $67.00 to $79.00 in a report on Monday, August 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of CVS Health in a report on Tuesday, October 14th. Barclays lifted their target price on CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $78.00 target price on shares of CVS Health in a report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $82.57.

Insiders Place Their Bets

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

CVS Health 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.