WBI Investments LLC Sells 58,817 Shares of CVS Health Corporation $CVS

WBI Investments LLC trimmed its holdings in shares of CVS Health Corporation (NYSE:CVS) by 80.0% in the 2nd quarter, Holdings Channel reports. The firm owned 14,745 shares of the pharmacy operator’s stock after selling 58,817 shares during the quarter. WBI Investments LLC’s holdings in CVS Health were worth $1,017,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CVS. Hazlett Burt & Watson Inc. grew its holdings in CVS Health by 10.9% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,682 shares of the pharmacy operator’s stock worth $117,000 after acquiring an additional 165 shares in the last quarter. Williams Financial LLC lifted its holdings in shares of CVS Health by 2.5% during 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 last quarter. Hemington Wealth Management boosted its stake in shares of CVS Health by 33.7% in the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator’s stock worth $46,000 after buying an additional 172 shares during the last quarter. GW&K Investment Management LLC grew its stake in shares of CVS Health by 39.4% during the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator’s stock worth $43,000 after purchasing an additional 180 shares during the period. Finally, Sunpointe LLC increased its holdings in CVS Health by 4.0% in the second quarter. Sunpointe LLC now owns 4,760 shares of the pharmacy operator’s stock valued at $328,000 after buying an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 0.6%

Shares of CVS Health stock opened at $78.24 on Tuesday. The company has a 50-day moving average of $77.86 and a two-hundred day moving average of $70.02. The stock has a market cap of $99.32 billion, a PE ratio of 205.89, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $85.15. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.24. The firm had revenue of $102.87 billion during the quarter, compared to the consensus estimate 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 last year, the firm posted $1.09 EPS. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. On average, research analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 23rd were issued a $0.665 dividend. The ex-dividend date was 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 (DPR) is presently 700.00%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CVS shares. Morgan Stanley increased their target price on CVS Health from $82.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Truist Financial restated a “buy” rating and issued a $95.00 target price (up previously from $92.00) on shares of CVS Health in a research report on Thursday, October 30th. Wells Fargo & Company dropped their target price on shares of CVS Health from $103.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, November 13th. Raymond James Financial lifted their target price on CVS Health from $75.00 to $90.00 in a research report on Friday, October 31st. Finally, Wolfe Research boosted 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 equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.41.

Insider Buying and Selling at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of CVS Health 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 transaction, the director 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.22% of the stock is owned by corporate insiders.

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.