Portside Wealth Group LLC Sells 898 Shares of CVS Health Corporation $CVS

Portside Wealth Group LLC cut its stake in CVS Health Corporation (NYSE:CVS) by 2.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,937 shares of the pharmacy operator’s stock after selling 898 shares during the period. Portside Wealth Group LLC’s holdings in CVS Health were worth $2,065,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Private Advisor Group LLC boosted its stake in CVS Health by 0.6% in the first quarter. Private Advisor Group LLC now owns 89,967 shares of the pharmacy operator’s stock worth $6,095,000 after buying an additional 560 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in shares of CVS Health by 5.0% in the 1st quarter. Kestra Private Wealth Services LLC now owns 38,261 shares of the pharmacy operator’s stock valued at $2,592,000 after purchasing an additional 1,839 shares in the last quarter. OneAscent Financial Services LLC grew its holdings in shares of CVS Health by 93.9% during the 1st quarter. OneAscent Financial Services LLC now owns 11,688 shares of the pharmacy operator’s stock valued at $792,000 after purchasing an additional 5,661 shares during the last quarter. IFP Advisors Inc lifted its stake in CVS Health by 8.6% in the first quarter. IFP Advisors Inc now owns 23,256 shares of the pharmacy operator’s stock worth $1,576,000 after purchasing an additional 1,843 shares during the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new stake in CVS Health during the first quarter valued at about $1,578,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insiders Place Their Bets

In related news, Director Anne A. Finucane sold 7,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director owned 22,156 shares of the company’s stock, valued at $1,573,519.12. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.22% of the stock is currently owned by company insiders.

CVS Health Stock Up 0.6%

NYSE:CVS opened at $78.24 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.62. The firm’s 50-day moving average price is $77.86 and its 200-day moving average price is $70.02. The company has a market capitalization of $99.32 billion, a PE ratio of 205.89, a P/E/G ratio of 0.87 and a beta of 0.60. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $85.15.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (EPS) for the quarter, beating 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%. CVS Health’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $1.09 EPS. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. On average, equities analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 23rd were paid a $0.665 dividend. The ex-dividend date was Thursday, October 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.4%. CVS Health’s dividend payout ratio is presently 700.00%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CVS shares. Sanford C. Bernstein lifted their target price on shares of CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a research note on Friday, September 5th. Cowen reissued a “buy” rating on shares of CVS Health in a research note on Monday, August 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CVS Health in a report on Tuesday, November 11th. Zacks Research lowered CVS Health from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Finally, Argus upped their price objective on shares of CVS Health from $80.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.41.

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.