Checchi Capital Advisers LLC Has $440,000 Stock Holdings in CVS Health Corporation $CVS

Checchi Capital Advisers LLC lowered its stake in shares of CVS Health Corporation (NYSE:CVS) by 11.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 6,374 shares of the pharmacy operator’s stock after selling 843 shares during the period. Checchi Capital Advisers LLC’s holdings in CVS Health were worth $440,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CVS. QRG Capital Management Inc. boosted its position in CVS Health by 173.9% during the second quarter. QRG Capital Management Inc. now owns 92,896 shares of the pharmacy operator’s stock valued at $6,408,000 after purchasing an additional 58,984 shares during the last quarter. Boyar Asset Management Inc. raised its stake in shares of CVS Health by 1.9% during the 2nd quarter. Boyar Asset Management Inc. now owns 18,779 shares of the pharmacy operator’s stock worth $1,295,000 after purchasing an additional 345 shares in the last quarter. Stock Yards Bank & Trust Co. lifted its holdings in shares of CVS Health by 33.2% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 34,955 shares of the pharmacy operator’s stock valued at $2,411,000 after buying an additional 8,716 shares during the last quarter. HighMark Wealth Management LLC increased its holdings in CVS Health by 266.9% in the second quarter. HighMark Wealth Management LLC now owns 1,897 shares of the pharmacy operator’s stock worth $131,000 after buying an additional 1,380 shares during the last quarter. Finally, Greenwood Capital Associates LLC bought a new position in CVS Health during the second quarter valued at approximately $1,306,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the business’s stock in a transaction dated 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 approximately $1,573,519.12. The trade was a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.22% of the stock is owned by corporate insiders.

CVS Health Trading Down 0.8%

CVS Health stock opened at $76.86 on Tuesday. CVS Health Corporation has a 52 week low of $43.56 and a 52 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. The firm has a market capitalization of $97.48 billion, a PE ratio of 21.47, a PEG ratio of 0.85 and a beta of 0.60. The business’s 50-day simple moving average is $71.05 and its 200-day simple moving average is $67.39.

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

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders 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 dividend on an annualized basis and a yield of 3.5%. CVS Health’s dividend payout ratio is 74.30%.

Analyst Upgrades and Downgrades

Several analysts have commented on CVS shares. Barclays boosted their target price on shares of CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. Baird R W raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. UBS Group raised CVS Health from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $67.00 to $79.00 in a research report on Monday, August 18th. Wolfe Research increased their price objective on CVS Health from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, Sanford C. Bernstein boosted their target price on CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a report on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average target price of $78.25.

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.