Diligent Investors LLC Sells 5,823 Shares of CVS Health Corporation $CVS

Diligent Investors LLC reduced its holdings in CVS Health Corporation (NYSE:CVS) by 41.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,351 shares of the pharmacy operator’s stock after selling 5,823 shares during the quarter. Diligent Investors LLC’s holdings in CVS Health were worth $576,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vest Financial LLC raised its holdings in CVS Health by 73.5% in the 1st quarter. Vest Financial LLC now owns 16,707 shares of the pharmacy operator’s stock worth $1,132,000 after purchasing an additional 7,077 shares in the last quarter. Procyon Advisors LLC bought a new position in CVS Health in the first quarter worth about $2,065,000. SeaCrest Wealth Management LLC lifted its holdings in CVS Health by 4.4% in the first quarter. SeaCrest Wealth Management LLC now owns 8,136 shares of the pharmacy operator’s stock worth $551,000 after buying an additional 344 shares during the period. Pines Wealth Management LLC bought a new stake in CVS Health during the 1st quarter valued at approximately $340,000. Finally, Butensky & Cohen Financial Security Inc. grew its holdings in shares of CVS Health by 8.0% during the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 51,720 shares of the pharmacy operator’s stock worth $3,504,000 after acquiring an additional 3,810 shares during the period. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of CVS Health in a research report on Saturday, September 27th. UBS Group raised shares of CVS Health from a “neutral” rating to a “buy” rating and upped their target price for the stock from $67.00 to $79.00 in a research report on Monday, August 18th. Bernstein Bank decreased their price target on shares of 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. Barclays boosted their price objective on shares of CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a research note on Thursday, September 4th. Finally, Sanford C. Bernstein raised their target price on shares of CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a research note on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.25.

Insider Activity at CVS Health

In related 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 value of $532,650.00. Following the completion of the sale, the director directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. 1.22% of the stock is owned by company insiders.

CVS Health Stock Up 0.1%

NYSE:CVS opened at $77.51 on Friday. The firm has a 50-day simple moving average of $70.71 and a two-hundred day simple moving average of $67.33. The firm has a market cap of $98.31 billion, a P/E ratio of 21.65, a P/E/G ratio of 0.85 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 $79.20. 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 posted its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The firm had revenue of $98.92 billion for the quarter, compared to analysts’ expectations of $94.87 billion. During the same quarter in the prior year, the company posted $1.83 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health’s dividend payout ratio is presently 74.30%.

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.