Carlton Hofferkamp & Jenks Wealth Management LLC Cuts Position in CVS Health Corporation $CVS

Carlton Hofferkamp & Jenks Wealth Management LLC decreased its holdings in CVS Health Corporation (NYSE:CVS) by 5.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,519 shares of the pharmacy operator’s stock after selling 283 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in CVS Health were worth $312,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Avion Wealth raised its holdings in CVS Health by 99.0% in the second quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock valued at $26,000 after buying an additional 189 shares during the period. Harbor Asset Planning Inc. purchased a new position in CVS Health in the second quarter valued at approximately $30,000. Bell Investment Advisors Inc raised its holdings in CVS Health by 119.8% in the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock valued at $31,000 after buying an additional 248 shares during the period. Roxbury Financial LLC raised its holdings in CVS Health by 78.3% in the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 202 shares during the period. Finally, ORG Partners LLC grew its position in CVS Health by 418.9% in the second quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 377 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

CVS Health stock opened at $81.95 on Friday. The company has a market cap of $103.94 billion, a PE ratio of 22.89, a P/E/G ratio of 0.89 and a beta of 0.60. The company has a fifty day moving average price of $75.57 and a two-hundred day moving average price of $68.67. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $83.52.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.35. The firm had revenue of $98.92 billion during 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 firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

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 paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is presently 74.30%.

Wall Street Analysts Forecast Growth

CVS has been the subject of several recent research reports. Barclays increased their price objective on shares of CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, September 4th. Wolfe Research raised their price target on shares of CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Mizuho raised their price target on shares of CVS Health from $76.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Leerink Partners raised their price target on shares of CVS Health from $86.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Finally, Robert W. Baird raised shares of CVS Health from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $71.00 to $82.00 in a research report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $83.38.

Insider Transactions at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following 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 filing with the SEC, which can be accessed through this link. Insiders own 1.22% of the company’s stock.

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.