Mutual of America Capital Management LLC Cuts Stake in CVS Health Corporation $CVS

Mutual of America Capital Management LLC cut its position in CVS Health Corporation (NYSE:CVS) by 1.1% during the second quarter, HoldingsChannel reports. The firm owned 145,349 shares of the pharmacy operator’s stock after selling 1,590 shares during the quarter. Mutual of America Capital Management LLC’s holdings in CVS Health were worth $10,026,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Hazlett Burt & Watson Inc. increased its position in shares of CVS Health by 10.9% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,682 shares of the pharmacy operator’s stock valued at $117,000 after purchasing an additional 165 shares during the last quarter. Essex Financial Services Inc. increased its position in shares of CVS Health by 0.8% in the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator’s stock valued at $1,403,000 after purchasing an additional 166 shares during the last quarter. Williams Financial LLC increased its position in shares of CVS Health by 2.5% in the 2nd quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator’s stock valued at $478,000 after purchasing an additional 167 shares during the last quarter. Hemington Wealth Management boosted its holdings in shares of CVS Health by 33.7% in the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator’s stock valued at $46,000 after buying an additional 172 shares in the last quarter. Finally, Sumitomo Life Insurance Co. boosted its holdings in shares of CVS Health by 1.0% in the 1st quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator’s stock valued at $1,159,000 after buying an additional 174 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CVS. Wolfe Research upped their target price on shares of CVS Health from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Sanford C. Bernstein upped their target price on shares of CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a report on Friday, September 5th. The Goldman Sachs Group began coverage on shares of CVS Health in a report on Tuesday, October 14th. They issued a “buy” rating and a $91.00 target price for the company. Mizuho upped their target price on shares of CVS Health from $76.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Finally, Barclays upped their target price on shares of CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.57.

CVS Health Stock Up 1.6%

Shares of NYSE:CVS opened at $82.64 on Monday. The stock has a market cap of $104.81 billion, a P/E ratio of 23.08, a P/E/G ratio of 0.91 and a beta of 0.60. The firm has a fifty day moving average price of $74.00 and a 200 day moving average price of $68.12. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $82.88.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.35. The firm had revenue of $98.92 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Sell-side analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed 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 is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.2%. CVS Health’s dividend payout ratio is presently 74.30%.

Insider Buying and Selling

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 shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the transaction, the director owned 22,156 shares in the company, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.22% of the company’s stock.

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.