Korea Investment CORP Lowers Stock Holdings in CVS Health Corporation $CVS

Korea Investment CORP lessened its position in CVS Health Corporation (NYSE:CVS) by 8.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 903,562 shares of the pharmacy operator’s stock after selling 82,785 shares during the quarter. Korea Investment CORP’s holdings in CVS Health were worth $62,328,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CVS. Goldman Sachs Group Inc. increased its stake in CVS Health by 87.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator’s stock worth $672,598,000 after purchasing an additional 4,632,530 shares during the period. Dodge & Cox increased its stake in CVS Health by 4.8% during the 1st quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock worth $4,976,856,000 after buying an additional 3,353,223 shares during the period. Nuveen LLC purchased a new stake in CVS Health during the 1st quarter worth approximately $204,421,000. Invesco Ltd. boosted its position in CVS Health by 13.2% in the 1st quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock valued at $1,383,039,000 after buying an additional 2,375,764 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of CVS Health by 815.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 2,663,111 shares of the pharmacy operator’s stock worth $183,701,000 after acquiring an additional 2,372,121 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wolfe Research increased their price objective on CVS Health from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Raymond James Financial increased their price target on CVS Health from $75.00 to $90.00 in a research report on Friday, October 31st. Cantor Fitzgerald lifted their price objective on CVS Health from $78.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Barclays upped their target price on shares of CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a research note on Thursday, September 4th. Finally, Wall Street Zen downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.41.

CVS Health Trading Up 1.8%

Shares of CVS Health stock opened at $79.88 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.83. The company has a fifty day simple moving average of $78.53 and a 200-day simple moving average of $70.59. The stock has a market cap of $101.40 billion, a price-to-earnings ratio of 210.22, a PEG ratio of 0.87 and a beta of 0.60. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $85.15.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.24. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The firm had revenue of $102.87 billion during the quarter, compared to analysts’ expectations of $98.85 billion. During the same period in the previous year, the company earned $1.09 earnings per share. CVS Health’s quarterly revenue was up 7.8% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. On average, equities analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

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 $0.665 dividend. The ex-dividend date of this dividend was Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.3%. CVS Health’s dividend payout ratio is 700.00%.

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.