Applied Finance Capital Management LLC Decreases Holdings in CVS Health Corporation $CVS

Applied Finance Capital Management LLC lowered its holdings in CVS Health Corporation (NYSE:CVS) by 15.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 184,244 shares of the pharmacy operator’s stock after selling 33,440 shares during the quarter. Applied Finance Capital Management LLC’s holdings in CVS Health were worth $13,890,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of CVS Health in the 2nd quarter valued at $1,358,698,000. Invesco Ltd. lifted its position in CVS Health by 15.3% in the second quarter. Invesco Ltd. now owns 23,532,479 shares of the pharmacy operator’s stock valued at $1,623,270,000 after acquiring an additional 3,118,626 shares during the last quarter. Jennison Associates LLC boosted its stake in CVS Health by 111.7% in the second quarter. Jennison Associates LLC now owns 4,014,139 shares of the pharmacy operator’s stock valued at $276,895,000 after acquiring an additional 2,117,798 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of CVS Health by 1.7% during the second quarter. Vanguard Group Inc. now owns 120,399,131 shares of the pharmacy operator’s stock worth $8,305,132,000 after purchasing an additional 2,063,737 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of CVS Health by 153.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,105,827 shares of the pharmacy operator’s stock valued at $214,240,000 after purchasing an additional 1,878,217 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Leerink Partners raised their price target on CVS Health from $86.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $101.00 target price (up from $99.00) on shares of CVS Health in a report on Wednesday, December 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of CVS Health in a research report on Wednesday, December 10th. The Goldman Sachs Group raised their price objective on shares of CVS Health from $93.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Finally, Robert W. Baird upped their target price on shares of CVS Health from $82.00 to $92.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Nineteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.82.

CVS Health Stock Down 2.9%

CVS stock opened at $76.06 on Tuesday. The stock has a market capitalization of $96.55 billion, a PE ratio of 200.16, a price-to-earnings-growth ratio of 0.72 and a beta of 0.50. The company has a fifty day moving average of $78.56 and a 200-day moving average of $75.87. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.63 and a current ratio of 0.83. CVS Health Corporation has a one year low of $53.36 and a one year high of $85.15.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Thursday, January 22nd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, January 22nd. CVS Health’s payout ratio is currently 700.00%.

About CVS Health

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.