Gamco Investors INC. ET AL Has $9.15 Million Holdings in CVS Health Corporation $CVS

Gamco Investors INC. ET AL lessened its stake in CVS Health Corporation (NYSE:CVS) by 6.2% in the 1st quarter, HoldingsChannel reports. The fund owned 134,996 shares of the pharmacy operator’s stock after selling 8,857 shares during the quarter. Gamco Investors INC. ET AL’s holdings in CVS Health were worth $9,146,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Essex Financial Services Inc. grew its position in shares of CVS Health by 0.8% during the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator’s stock worth $1,403,000 after buying an additional 166 shares during the period. Hemington Wealth Management grew its position in shares of CVS Health by 33.7% during the 1st 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 period. McIlrath & Eck LLC grew its position in shares of CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 174 shares during the period. Sumitomo Life Insurance Co. grew its position in shares of CVS Health by 1.0% during the 1st quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator’s stock worth $1,159,000 after buying an additional 174 shares during the period. Finally, Koshinski Asset Management Inc. grew its position in shares of CVS Health by 3.7% during the 1st quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator’s stock worth $334,000 after buying an additional 178 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of several analyst reports. Truist Financial lifted their price target on shares of CVS Health from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. UBS Group upgraded shares of CVS Health from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $67.00 to $79.00 in a research report on Monday, August 18th. Wall Street Zen upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Royal Bank Of Canada boosted their price objective on shares of CVS Health from $74.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, May 5th. Finally, Jefferies Financial Group boosted their price objective on shares of CVS Health from $74.00 to $80.00 and gave the company a “buy” rating in a report on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $77.56.

Insider Buying and Selling at CVS Health

In related news, Director Guy P. Sansone purchased 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The stock was bought at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the acquisition, the director directly owned 12,007 shares of the company’s stock, valued at $764,845.90. This represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.22% of the stock is owned by company insiders.

CVS Health Stock Up 0.5%

CVS Health stock opened at $71.57 on Wednesday. The stock has a market capitalization of $90.78 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 0.79 and a beta of 0.58. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $72.51. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The company has a 50 day moving average of $65.66 and a 200-day moving average of $65.42.

CVS Health (NYSE:CVS) last released its quarterly earnings results 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. The company had revenue of $98.92 billion during the quarter, compared to analysts’ expectations of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities research analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, July 22nd. CVS Health’s dividend payout ratio is 74.30%.

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.