Beverly Hills Private Wealth LLC Buys 1,421 Shares of CVS Health Corporation $CVS

Beverly Hills Private Wealth LLC raised its stake in shares of CVS Health Corporation (NYSE:CVS) by 30.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,065 shares of the pharmacy operator’s stock after acquiring an additional 1,421 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in CVS Health were worth $418,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Calamos Wealth Management LLC bought a new stake in CVS Health during the 2nd quarter valued at $324,000. Cidel Asset Management Inc. boosted its position in shares of CVS Health by 0.9% in the 2nd quarter. Cidel Asset Management Inc. now owns 34,883 shares of the pharmacy operator’s stock worth $2,406,000 after purchasing an additional 320 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of CVS Health by 15.1% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 16,587 shares of the pharmacy operator’s stock worth $1,144,000 after purchasing an additional 2,176 shares in the last quarter. Independence Asset Advisors LLC acquired a new stake in shares of CVS Health in the 2nd quarter worth $2,378,000. Finally, TrueMark Investments LLC acquired a new stake in shares of CVS Health in the 2nd quarter worth $5,040,000. Institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CVS shares. Barclays raised their price objective on CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. Truist Financial set a $92.00 price objective on CVS Health in a research report on Tuesday, October 14th. Cowen reissued a “buy” rating on shares of CVS Health in a research report on Monday, August 4th. Jefferies Financial Group lifted their price target on CVS Health from $80.00 to $92.00 in a research report on Wednesday, October 15th. Finally, Baird R W raised CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.57.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction dated Wednesday, August 20th. The stock was 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 trade represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.22% of the company’s stock.

CVS Health Stock Performance

Shares of CVS opened at $82.47 on Tuesday. The stock has a 50-day moving average of $74.35 and a two-hundred day moving average of $68.25. The stock has a market cap of $104.59 billion, a P/E ratio of 23.04, a P/E/G ratio of 0.91 and a beta of 0.60. CVS Health Corporation has a one year low of $43.56 and a one year high of $82.88. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.35. The business had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, research analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be paid 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 dividend yield of 3.2%. CVS Health’s dividend payout ratio (DPR) is presently 74.30%.

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.