CVS Health Corporation $CVS Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC lowered its stake in shares of CVS Health Corporation (NYSE:CVS) by 1.6% during the second quarter, Holdings Channel reports. The firm owned 27,326 shares of the pharmacy operator’s stock after selling 455 shares during the period. HBK Sorce Advisory LLC’s holdings in CVS Health were worth $1,885,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CVS. Jennison Associates LLC grew its position in shares of CVS Health by 503.8% during the first quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator’s stock worth $128,477,000 after acquiring an additional 1,582,257 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. grew its position in shares of CVS Health by 1.6% during the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 409,735 shares of the pharmacy operator’s stock worth $28,264,000 after acquiring an additional 6,615 shares during the last quarter. Cerity Partners LLC grew its position in shares of CVS Health by 25.0% during the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator’s stock worth $43,920,000 after acquiring an additional 129,535 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of CVS Health by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator’s stock worth $608,481,000 after acquiring an additional 183,813 shares during the last quarter. Finally, Brandywine Global Investment Management LLC grew its position in shares of CVS Health by 20.1% during the first quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator’s stock worth $231,808,000 after acquiring an additional 572,533 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of NYSE CVS opened at $76.70 on Friday. The firm has a market capitalization of $97.28 billion, a P/E ratio of 201.84, a PEG ratio of 0.87 and a beta of 0.60. CVS Health Corporation has a one year low of $43.56 and a one year high of $85.15. The company’s fifty day moving average is $76.35 and its two-hundred day moving average is $68.98. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.62 and a current ratio of 0.83.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 EPS for the quarter, topping the consensus estimate of $1.36 by $0.24. The company had revenue of $102.87 billion for the quarter, compared to analyst estimates of $98.85 billion. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. Analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced 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. This represents a $2.66 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Thursday, October 23rd. CVS Health’s payout ratio is presently 74.30%.

Insider Activity at CVS Health

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

Analysts Set New Price Targets

CVS has been the topic of a number of research reports. Jefferies Financial Group raised their target price on shares of CVS Health from $80.00 to $92.00 in a research report on Wednesday, October 15th. Cantor Fitzgerald boosted their price objective on shares of CVS Health from $78.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday. Wolfe Research boosted their price objective on shares of CVS Health from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Wells Fargo & Company boosted their price objective on shares of CVS Health from $84.00 to $103.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Finally, Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Sunday, September 21st. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.33.

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.