Pettyjohn Wood & White Inc. Has $3.90 Million Stock Holdings in CVS Health Corporation $CVS

Pettyjohn Wood & White Inc. lowered its stake in CVS Health Corporation (NYSE:CVS) by 11.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,489 shares of the pharmacy operator’s stock after selling 7,639 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in CVS Health were worth $3,897,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CVS. Goldman Sachs Group Inc. boosted its holdings 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 buying an additional 4,632,530 shares during the last quarter. Dodge & Cox raised its position in shares of CVS Health by 4.8% in the 1st quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock valued at $4,976,856,000 after acquiring an additional 3,353,223 shares during the period. Nuveen LLC bought a new position in CVS Health during the 1st quarter worth approximately $204,421,000. Invesco Ltd. increased its stake in CVS Health by 13.2% in the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock valued at $1,383,039,000 after purchasing an additional 2,375,764 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in 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 purchasing an additional 2,372,121 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Performance

Shares of CVS opened at $77.92 on Friday. The firm has a fifty day simple moving average of $78.12 and a 200 day simple moving average of $70.28. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.83. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $85.15. The stock has a market capitalization of $98.91 billion, a price-to-earnings ratio of 205.06, a PEG ratio of 0.87 and a beta of 0.60.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.24. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.The company had revenue of $102.87 billion during the quarter, compared to analysts’ expectations of $98.85 billion. During the same quarter last year, the company earned $1.09 EPS. CVS Health’s revenue for the quarter 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. Research analysts forecast 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 paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, October 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.4%. CVS Health’s dividend payout ratio (DPR) is currently 700.00%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CVS. Weiss Ratings restated a “hold (c-)” rating on shares of CVS Health in a research report on Monday, November 17th. UBS Group lifted their price objective on CVS Health from $79.00 to $96.00 and gave the company a “buy” rating in a report on Friday, October 24th. Jefferies Financial Group increased their target price on CVS Health from $92.00 to $98.00 in a research note on Thursday, October 30th. Truist Financial reaffirmed a “buy” rating and issued a $95.00 price target (up previously from $92.00) on shares of CVS Health in a research note on Thursday, October 30th. Finally, The Goldman Sachs Group assumed coverage on shares of CVS Health in a report on Tuesday, October 14th. They set a “buy” rating and a $91.00 price objective on the stock. Two 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.41.

About CVS Health

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.