Welch & Forbes LLC Cuts Stock Position in CVS Health Corporation $CVS

Welch & Forbes LLC lowered its position in CVS Health Corporation (NYSE:CVS) by 31.2% during the second quarter, Holdings Channel reports. The institutional investor owned 22,734 shares of the pharmacy operator’s stock after selling 10,312 shares during the quarter. Welch & Forbes LLC’s holdings in CVS Health were worth $1,568,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVS. Avion Wealth grew its position in CVS Health by 99.0% during the 2nd quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock worth $26,000 after purchasing an additional 189 shares during the last quarter. Harbor Asset Planning Inc. purchased a new stake in CVS Health during the 2nd quarter worth approximately $30,000. Bell Investment Advisors Inc grew its position in 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 purchasing an additional 248 shares during the last quarter. Roxbury Financial LLC raised 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 acquiring an additional 202 shares during the last quarter. Finally, ORG Partners LLC raised its stake in CVS Health by 418.9% in the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock worth $32,000 after acquiring an additional 377 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

NYSE:CVS opened at $78.13 on Monday. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $85.15. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $99.18 billion, a PE ratio of 205.61, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The stock’s 50-day moving average price is $76.49 and its 200-day moving average price is $69.04.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.24. The company had revenue of $102.87 billion during the quarter, compared to analysts’ expectations of $98.85 billion. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The firm’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 earnings per share. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. As a group, equities analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be given a dividend of $0.665 per share. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.4%. CVS Health’s dividend payout ratio is currently 700.00%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CVS shares. Cantor Fitzgerald raised their target price on CVS Health from $78.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday. Royal Bank Of Canada raised their target price on CVS Health from $81.00 to $93.00 and gave the stock an “outperform” rating in a research note on Thursday. Evercore ISI raised their target price on CVS Health from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday. Raymond James Financial upped their price objective on shares of CVS Health from $75.00 to $90.00 in a report on Friday. Finally, Piper Sandler upped their price objective on shares of CVS Health from $81.00 to $99.00 in a report on Friday. Two equities research 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, the company has a consensus rating of “Moderate Buy” and an average price target of $87.91.

Insiders Place Their Bets

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 shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the transaction, the director directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.22% of the company’s stock.

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.