Patton Albertson Miller Group LLC Boosts Position in CVS Health Corporation $CVS

Patton Albertson Miller Group LLC increased its holdings in shares of CVS Health Corporation (NYSE:CVS) by 5.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,228 shares of the pharmacy operator’s stock after purchasing an additional 940 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in CVS Health were worth $1,188,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CVS. Bell Investment Advisors Inc lifted its stake in CVS Health by 119.8% in the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock valued at $31,000 after buying an additional 248 shares during the last quarter. Roxbury Financial LLC lifted its stake in CVS Health by 78.3% in the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 202 shares during the last quarter. ORG Partners LLC lifted its stake in CVS Health by 418.9% in the second quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 377 shares during the last quarter. Saudi Central Bank purchased a new stake in CVS Health in the first quarter valued at approximately $34,000. Finally, Livelsberger Financial Advisory purchased a new stake in CVS Health in the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 1.6%

Shares of CVS stock opened at $75.80 on Friday. The business’s fifty day moving average price is $69.13 and its 200 day moving average price is $66.99. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $77.34. The firm has a market capitalization of $96.14 billion, a PE ratio of 21.17, a P/E/G ratio of 0.84 and a beta of 0.62. 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 (NYSE:CVS) last announced its quarterly earnings data 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. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same quarter in the prior year, the company posted $1.83 earnings per share. CVS Health’s quarterly revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, sell-side 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 will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 annualized dividend and a yield of 3.5%. CVS Health’s dividend payout ratio is 74.30%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CVS. Wolfe Research boosted 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. Bernstein Bank cut their price target on CVS Health from $78.00 to $72.00 and set a “market perform” rating for the company in a research note on Wednesday, July 16th. Baird R W upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Morgan Stanley upped their price target on CVS Health from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Wall Street Zen upgraded CVS Health from a “hold” rating to a “buy” rating in a research note on Sunday, September 21st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.25.

Insiders Place Their Bets

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 stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the sale, the director owned 22,156 shares of the company’s stock, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.22% of the company’s stock.

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.