HBK Sorce Advisory LLC Reduces Stock Holdings in CVS Health Corporation $CVS

HBK Sorce Advisory LLC lowered its position in CVS Health Corporation (NYSE:CVS) by 1.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,326 shares of the pharmacy operator’s stock after selling 455 shares during the quarter. HBK Sorce Advisory LLC’s holdings in CVS Health were worth $1,885,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Hazlett Burt & Watson Inc. boosted its stake in CVS Health by 10.9% during the second quarter. Hazlett Burt & Watson Inc. now owns 1,682 shares of the pharmacy operator’s stock worth $117,000 after buying an additional 165 shares during the period. Williams Financial LLC boosted its stake in CVS Health by 2.5% during the second quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator’s stock worth $478,000 after buying an additional 167 shares during the period. Hemington Wealth Management boosted its stake in CVS Health by 33.7% during the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator’s stock worth $46,000 after buying an additional 172 shares during the period. Sumitomo Life Insurance Co. boosted its stake in CVS Health by 1.0% during the first quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator’s stock worth $1,159,000 after buying an additional 174 shares during the period. Finally, Koshinski Asset Management Inc. boosted its stake in CVS Health by 3.7% during the first quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator’s stock worth $334,000 after buying an additional 178 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Down 4.8%

Shares of NYSE:CVS opened at $76.70 on Friday. The firm’s 50 day moving average price is $76.35 and its 200 day moving average price is $68.98. The stock has a market cap of $97.28 billion, a price-to-earnings ratio of 201.84, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $85.15. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last issued its earnings results 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. The firm had revenue of $102.87 billion for the quarter, compared to analysts’ expectations of $98.85 billion. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.09 earnings per share. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. As a group, equities research analysts predict that CVS Health Corporation will post 5.89 earnings per share 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. Investors 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 (DPR) is 74.30%.

Insiders Place Their Bets

In related news, Director Anne A. Finucane sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 $1,573,519.12. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CVS has been the subject of several research analyst reports. Baird R W raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Cantor Fitzgerald raised their price objective on shares of CVS Health from $78.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday. Mizuho raised their price objective on shares of CVS Health from $76.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Barclays raised their price objective on shares of CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. Finally, UBS Group raised their price objective on shares of CVS Health from $79.00 to $96.00 and gave the company a “buy” rating in a research note on Friday, October 24th. 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 company’s stock. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $86.33.

CVS Health 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.