Morey & Quinn Wealth Partners LLC Sells 6,250 Shares of CVS Health Corporation $CVS

Morey & Quinn Wealth Partners LLC reduced its stake in CVS Health Corporation (NYSE:CVS) by 36.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,016 shares of the pharmacy operator’s stock after selling 6,250 shares during the period. Morey & Quinn Wealth Partners LLC’s holdings in CVS Health were worth $760,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CVS. Goldman Sachs Group Inc. raised its stake in CVS Health by 87.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator’s stock worth $672,598,000 after buying an additional 4,632,530 shares in the last quarter. Dodge & Cox raised its stake in CVS Health by 4.8% in the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock worth $4,976,856,000 after buying an additional 3,353,223 shares in the last quarter. Nuveen LLC purchased a new stake in CVS Health in the first quarter worth about $204,421,000. Assenagon Asset Management S.A. grew its holdings in CVS Health by 310.8% in the first quarter. Assenagon Asset Management S.A. now owns 3,523,824 shares of the pharmacy operator’s stock worth $238,739,000 after purchasing an additional 2,666,029 shares during the period. Finally, Invesco Ltd. grew its holdings in CVS Health by 13.2% in the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock worth $1,383,039,000 after purchasing an additional 2,375,764 shares during the period. 80.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CVS has been the topic of a number of recent research reports. Sanford C. Bernstein upped their price objective on shares of CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a report on Friday, September 5th. Zacks Research cut shares of CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Morgan Stanley raised their target price on shares of CVS Health from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Wells Fargo & Company lifted their price target on shares of CVS Health from $84.00 to $103.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Wolfe Research lifted their price target on shares of CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Two research 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 stock. Based on data from MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $79.20.

Insider Transactions at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.22% of the company’s stock.

CVS Health Trading Down 0.2%

NYSE CVS opened at $76.94 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $79.20. The firm has a market cap of $97.59 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 0.85 and a beta of 0.60. The company has a 50 day moving average price of $71.68 and a 200 day moving average price of $67.52.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating the consensus estimate of $1.46 by $0.35. The business had revenue of $98.92 billion for the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.83 EPS. 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 announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Thursday, October 23rd. CVS Health’s dividend payout ratio is 74.30%.

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.