Optimum Investment Advisors Sells 977 Shares of CVS Health Corporation $CVS

Optimum Investment Advisors lessened its holdings in shares of CVS Health Corporation (NYSE:CVS) by 26.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,705 shares of the pharmacy operator’s stock after selling 977 shares during the quarter. Optimum Investment Advisors’ holdings in CVS Health were worth $187,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVS. GAMMA Investing LLC raised its stake in CVS Health by 198.5% in the first quarter. GAMMA Investing LLC now owns 18,669 shares of the pharmacy operator’s stock valued at $1,265,000 after buying an additional 12,415 shares during the period. Golden State Wealth Management LLC raised its stake in CVS Health by 5,096.1% in the first quarter. Golden State Wealth Management LLC now owns 3,949 shares of the pharmacy operator’s stock valued at $268,000 after buying an additional 3,873 shares during the period. Pure Financial Advisors LLC bought a new stake in CVS Health in the first quarter valued at approximately $204,000. Sequoia Financial Advisors LLC raised its stake in CVS Health by 9.1% in the first quarter. Sequoia Financial Advisors LLC now owns 44,905 shares of the pharmacy operator’s stock valued at $3,042,000 after buying an additional 3,748 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in CVS Health by 33.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 290,990 shares of the pharmacy operator’s stock valued at $19,715,000 after buying an additional 73,583 shares during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 1.1%

Shares of NYSE:CVS opened at $81.95 on Friday. The company has a market capitalization of $103.94 billion, a P/E ratio of 22.89, a P/E/G ratio of 0.90 and a beta of 0.60. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $83.52. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The business’s 50 day simple moving average is $75.57 and its 200 day simple moving average is $68.68.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.35. The business had revenue of $98.92 billion for the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, research analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 3.2%. CVS Health’s dividend payout ratio is presently 74.30%.

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 transaction of $532,650.00. Following the completion of the sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CVS shares. UBS Group upped their target price on CVS Health from $79.00 to $96.00 and gave the company a “buy” rating in a research report on Friday. The Goldman Sachs Group started coverage on CVS Health in a research report on Tuesday, October 14th. They issued a “buy” rating and a $91.00 target price on the stock. Wall Street Zen raised CVS Health from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $78.00 target price on shares of CVS Health in a research report on Tuesday, August 26th. Finally, Sanford C. Bernstein upped their target price on CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a research report on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average target price of $83.38.

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.