CVS Health Corporation $CVS Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. lessened its stake in CVS Health Corporation (NYSE:CVS) by 19.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 15,168 shares of the pharmacy operator’s stock after selling 3,560 shares during the period. Wedbush Securities Inc.’s holdings in CVS Health were worth $1,046,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CVS. Avion Wealth increased its position in shares of CVS Health by 99.0% during the second quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock worth $26,000 after acquiring an additional 189 shares during the period. Harbor Asset Planning Inc. purchased a new position in shares of CVS Health in the 2nd quarter valued at about $30,000. Bell Investment Advisors Inc lifted its stake in CVS Health by 119.8% in the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock worth $31,000 after acquiring an additional 248 shares during the last quarter. Roxbury Financial LLC increased its position in shares of 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 purchasing an additional 202 shares during the last quarter. Finally, ORG Partners LLC lifted its position in shares of CVS Health by 418.9% during the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 377 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Up 0.4%

Shares of CVS Health stock opened at $79.00 on Monday. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $85.15. The company’s 50-day simple moving average is $77.15 and its 200-day simple moving average is $69.48. The firm has a market cap of $100.29 billion, a price-to-earnings ratio of 207.90, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.24. The business had revenue of $102.87 billion during the quarter, compared to the consensus estimate of $98.85 billion. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 EPS. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. As a group, equities research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd were given 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 was Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is presently 700.00%.

Insider Transactions at CVS Health

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 value of $532,650.00. Following the sale, the director owned 22,156 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Corporate insiders own 1.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CVS. Evercore ISI upped their price objective on CVS Health from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Wolfe Research upped their price target on CVS Health from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. The Goldman Sachs Group began coverage on shares of CVS Health in a research note on Tuesday, October 14th. They issued a “buy” rating and a $91.00 price target on the stock. TD Cowen upped their target price on shares of CVS Health from $99.00 to $100.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, Raymond James Financial boosted their price target on shares of CVS Health from $75.00 to $90.00 in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.45.

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.