CVS Health Corporation $CVS Shares Purchased by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC lifted its position in CVS Health Corporation (NYSE:CVS) by 34.3% in the second quarter, Holdings Channel reports. The firm owned 9,053 shares of the pharmacy operator’s stock after acquiring an additional 2,312 shares during the period. GC Wealth Management RIA LLC’s holdings in CVS Health were worth $624,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. Essex Financial Services Inc. boosted its position in shares of CVS Health by 0.8% in the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator’s stock valued at $1,403,000 after purchasing an additional 166 shares during the period. Williams Financial LLC boosted its position in shares of CVS Health by 2.5% in the 2nd quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator’s stock valued at $478,000 after purchasing an additional 167 shares during the period. Hemington Wealth Management raised its stake in CVS Health by 33.7% during the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator’s stock valued at $46,000 after acquiring an additional 172 shares during the last quarter. Sumitomo Life Insurance Co. raised its stake in CVS Health by 1.0% during the 1st quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator’s stock valued at $1,159,000 after acquiring an additional 174 shares during the last quarter. Finally, Koshinski Asset Management Inc. raised its stake in CVS Health by 3.7% during the 1st quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator’s stock valued at $334,000 after acquiring an additional 178 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on CVS. Cowen reaffirmed a “buy” rating on shares of CVS Health in a research note on Monday, August 4th. Bernstein Bank reduced their price objective on CVS Health from $78.00 to $72.00 and set a “market perform” rating for the company in a research note on Wednesday, July 16th. Sanford C. Bernstein upped their price objective 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. Baird R W raised CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Finally, Wall Street Zen raised CVS Health from a “hold” rating to a “buy” rating in a research note on Sunday, September 21st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $78.25.

CVS Health Stock Performance

NYSE CVS opened at $75.31 on Wednesday. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $77.34. The company has a market capitalization of $95.52 billion, a P/E ratio of 21.04, a PEG ratio of 0.83 and a beta of 0.62. The business has a 50 day moving average price of $69.70 and a 200 day moving average price of $67.13. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. During the same period last year, the business posted $1.83 EPS. CVS Health’s quarterly revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Sell-side analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is presently 74.30%.

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 owned 22,156 shares in the company, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.22% of the company’s stock.

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.