Thompson Davis & CO. Inc. Invests $1.14 Million in CVS Health Corporation $CVS

Thompson Davis & CO. Inc. purchased a new stake in shares of CVS Health Corporation (NYSE:CVS) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 16,529 shares of the pharmacy operator’s stock, valued at approximately $1,140,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ABN Amro Investment Solutions bought a new stake in CVS Health in the second quarter worth $890,000. Police & Firemen s Retirement System of New Jersey increased its holdings in shares of CVS Health by 3.4% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 190,209 shares of the pharmacy operator’s stock worth $13,121,000 after buying an additional 6,342 shares during the period. Geode Capital Management LLC lifted its stake in shares of CVS Health by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 28,635,233 shares of the pharmacy operator’s stock valued at $1,966,083,000 after acquiring an additional 675,824 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in CVS Health by 1.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 568,176 shares of the pharmacy operator’s stock valued at $39,193,000 after acquiring an additional 8,407 shares during the period. Finally, Tobam bought a new position in CVS Health during the 2nd quarter worth approximately $341,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of CVS Health in a report on Tuesday. Cowen reaffirmed a “buy” rating on shares of CVS Health in a research note on Monday, August 4th. Zacks Research cut CVS Health from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Barclays boosted their price target on CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, September 4th. Finally, Raymond James Financial lifted their price objective on CVS Health from $75.00 to $90.00 in a research report on Friday, October 31st. Two research 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 stock. According to data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $89.45.

CVS Health Stock Performance

CVS Health stock opened at $79.51 on Thursday. CVS Health Corporation has a twelve month low of $43.56 and a twelve month 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. The company has a market capitalization of $100.94 billion, a P/E ratio of 208.96, a PEG ratio of 0.87 and a beta of 0.60. The stock’s 50 day moving average is $77.50 and its 200 day moving average is $69.74.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $102.87 billion during the quarter, compared to analyst estimates of $98.85 billion. During the same quarter in the previous year, the firm earned $1.09 EPS. CVS Health’s quarterly revenue 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. On average, 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 business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd were paid a dividend of $0.665 per share. The ex-dividend date was Thursday, October 23rd. This represents a $2.66 annualized dividend and a yield of 3.3%. CVS Health’s dividend payout ratio is currently 700.00%.

Insider Activity

In related news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the transaction, the director owned 22,156 shares in the company, valued at $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.22% of the stock is currently owned by insiders.

CVS Health Company 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.