Wealthfront Advisers LLC Cuts Stock Position in CVS Health Corporation $CVS

Wealthfront Advisers LLC reduced its position in CVS Health Corporation (NYSE:CVS) by 9.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 195,494 shares of the pharmacy operator’s stock after selling 20,879 shares during the quarter. Wealthfront Advisers LLC’s holdings in CVS Health were worth $13,485,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in CVS Health by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator’s stock valued at $8,017,223,000 after acquiring an additional 969,027 shares during the period. Dodge & Cox boosted its holdings in CVS Health by 4.8% during the 1st quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock valued at $4,976,856,000 after acquiring an additional 3,353,223 shares during the period. Invesco Ltd. boosted its holdings in CVS Health by 13.2% during the 1st quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock valued at $1,383,039,000 after acquiring an additional 2,375,764 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in CVS Health by 14.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator’s stock valued at $1,037,205,000 after acquiring an additional 1,942,886 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in CVS Health by 5.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator’s stock valued at $924,643,000 after acquiring an additional 728,924 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the 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 sale, the director directly owned 22,156 shares in the company, valued at approximately $1,573,519.12. This trade represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.22% of the company’s stock.

Analyst Ratings Changes

CVS has been the subject of several analyst reports. Cowen restated a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Morgan Stanley upped their price target on CVS Health from $82.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Robert W. Baird raised CVS Health from a “neutral” rating to an “outperform” rating and upped their price target for the company from $71.00 to $82.00 in a research report on Thursday, August 14th. Barclays upped their price target on CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, September 4th. Finally, Baird R W raised CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.38.

CVS Health Stock Up 1.1%

CVS stock opened at $81.95 on Monday. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $83.52. 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 $103.94 billion, a PE ratio of 22.89, a price-to-earnings-growth ratio of 0.90 and a beta of 0.60. The business has a 50 day moving average of $75.57 and a 200 day moving average of $68.66.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share 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 company had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. During the same quarter last year, the company earned $1.83 EPS. The firm’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. On average, research analysts forecast 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. This represents a $2.66 annualized dividend and a yield of 3.2%. The ex-dividend date is Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is currently 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.