Optimum Investment Advisors Sells 977 Shares of CVS Health Corporation $CVS

Optimum Investment Advisors trimmed its position in CVS Health Corporation (NYSE:CVS) by 26.5% in the second quarter, Holdings Channel reports. The fund owned 2,705 shares of the pharmacy operator’s stock after selling 977 shares during the quarter. Optimum Investment Advisors’ holdings in CVS Health were worth $187,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of CVS Health by 18.3% in the 2nd quarter. Brighton Jones LLC now owns 10,795 shares of the pharmacy operator’s stock valued at $745,000 after acquiring an additional 1,671 shares during the last quarter. Leavell Investment Management Inc. lifted its stake in shares of CVS Health by 7.6% in the 2nd quarter. Leavell Investment Management Inc. now owns 7,887 shares of the pharmacy operator’s stock valued at $544,000 after acquiring an additional 560 shares during the last quarter. CVA Family Office LLC lifted its stake in shares of CVS Health by 7.9% in the 2nd quarter. CVA Family Office LLC now owns 5,756 shares of the pharmacy operator’s stock valued at $397,000 after acquiring an additional 420 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs lifted its stake in shares of CVS Health by 2.2% in the 2nd quarter. AG2R LA Mondiale Gestion D Actifs now owns 47,681 shares of the pharmacy operator’s stock valued at $3,289,000 after acquiring an additional 1,005 shares during the last quarter. Finally, PKO Investment Management Joint Stock Co lifted its stake in shares of CVS Health by 9.9% in the 2nd quarter. PKO Investment Management Joint Stock Co now owns 33,300 shares of the pharmacy operator’s stock valued at $2,297,000 after acquiring an additional 3,000 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Performance

CVS stock opened at $81.95 on Friday. The stock has a 50-day moving average price of $75.57 and a 200-day moving average price of $68.68. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $83.52. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The firm has a market cap of $103.94 billion, a PE ratio of 22.89, a price-to-earnings-growth ratio of 0.90 and a beta of 0.60.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. During the same period last year, the company posted $1.83 EPS. The business’s quarterly revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be given a $0.665 dividend. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.2%. CVS Health’s dividend payout ratio (DPR) is 74.30%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Leerink Partners increased their price target on CVS Health from $86.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $78.00 price objective on shares of CVS Health in a report on Tuesday, August 26th. Truist Financial set a $92.00 price objective on CVS Health in a report on Tuesday, October 14th. Wolfe Research increased their price objective on CVS Health from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, Bernstein Bank decreased their price objective on CVS Health from $78.00 to $72.00 and set a “market perform” rating for the company in a report on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $83.38.

Insider Buying and Selling at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the sale, the director directly owned 22,156 shares in the company, valued at $1,573,519.12. This trade represents a 25.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.22% of the company’s stock.

About CVS Health

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.