CVS Health Corporation $CVS Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC lessened its stake in CVS Health Corporation (NYSE:CVS) by 22.4% in the 2nd quarter, Holdings Channel reports. The firm owned 27,282 shares of the pharmacy operator’s stock after selling 7,874 shares during the period. Carret Asset Management LLC’s holdings in CVS Health were worth $1,882,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVS. Avion Wealth boosted its position in CVS Health by 99.0% in the 2nd quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock valued at $26,000 after buying an additional 189 shares during the period. Harbor Asset Planning Inc. purchased a new position in CVS Health in the 2nd quarter valued at approximately $30,000. Bell Investment Advisors Inc boosted its position in CVS Health by 119.8% in the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock valued at $31,000 after buying an additional 248 shares during the period. Roxbury Financial LLC boosted its position in CVS Health by 78.3% in the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 202 shares during the period. Finally, ORG Partners LLC boosted its position in CVS Health by 418.9% in the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 377 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Buying and Selling at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the 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 completion of the sale, the director owned 22,156 shares in the company, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CVS shares. Truist Financial set a $92.00 price objective on shares of CVS Health in a research report on Tuesday, October 14th. 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. Wells Fargo & Company lifted their price objective on shares of CVS Health from $84.00 to $103.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. Finally, Wolfe Research lifted their price objective on shares of CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.38.

CVS Health Stock Performance

Shares of CVS stock opened at $80.80 on Thursday. The stock’s 50-day moving average is $76.25 and its two-hundred day moving average is $68.92. The firm has a market cap of $102.48 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 0.91 and a beta of 0.60. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $85.15. 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 issued its quarterly earnings data 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. The company had revenue of $102.87 billion for the quarter, compared to analyst estimates of $98.85 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 earnings per share. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. Analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders 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 dividend yield of 3.3%. CVS Health’s dividend payout ratio is 74.30%.

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.