Valley National Advisers Inc. Trims Stake in CVS Health Corporation $CVS

Valley National Advisers Inc. lowered its position in CVS Health Corporation (NYSE:CVS) by 11.6% in the 2nd quarter, Holdings Channel reports. The firm owned 2,186 shares of the pharmacy operator’s stock after selling 286 shares during the quarter. Valley National Advisers Inc.’s holdings in CVS Health were worth $150,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bell Investment Advisors Inc lifted its stake in shares of CVS Health by 119.8% during the 1st 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 stake in CVS Health by 78.3% in the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 202 shares during the period. ORG Partners LLC lifted its holdings in CVS Health by 418.9% during 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 in the last quarter. Saudi Central Bank purchased a new stake in CVS Health in the 1st quarter valued at about $34,000. Finally, Livelsberger Financial Advisory bought a new position in CVS Health in the 2nd quarter worth about $35,000. Institutional investors own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of research reports. Barclays boosted their price target on CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, September 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $78.00 target price on shares of CVS Health in a report on Tuesday, August 26th. Sanford C. Bernstein raised their price target on CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a research note on Friday, September 5th. Wolfe Research lifted 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, Wall Street Zen upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. 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 company’s stock. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average price target of $78.25.

CVS Health Trading Down 0.8%

NYSE CVS 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 50 day moving average price of $71.05 and a 200 day moving average price of $67.39. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The firm has a market cap of $97.48 billion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 0.85 and a beta of 0.60.

CVS Health (NYSE:CVS) last released its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same period in the previous year, the company earned $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. As a group, sell-side analysts forecast that CVS Health Corporation will post 5.89 EPS 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. Shareholders of record on Thursday, October 23rd will be paid a $0.665 dividend. The ex-dividend date 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 (DPR) is 74.30%.

Insiders Place Their Bets

In other news, Director Anne A. Finucane sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.22% of the company’s stock.

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.