Wealth Enhancement Advisory Services LLC Reduces Stock Position in CVS Health Corporation $CVS

Wealth Enhancement Advisory Services LLC reduced its stake in CVS Health Corporation (NYSE:CVS) by 7.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,318 shares of the pharmacy operator’s stock after selling 10,929 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in CVS Health were worth $9,327,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its holdings in CVS Health by 87.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator’s stock worth $672,598,000 after acquiring an additional 4,632,530 shares during the last quarter. Dodge & Cox grew its position in CVS Health by 4.8% in the 1st quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock worth $4,976,856,000 after purchasing an additional 3,353,223 shares during the period. Nuveen LLC bought a new stake in CVS Health in the 1st quarter worth approximately $204,421,000. Assenagon Asset Management S.A. grew its position in CVS Health by 310.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,523,824 shares of the pharmacy operator’s stock worth $238,739,000 after purchasing an additional 2,666,029 shares during the period. Finally, Invesco Ltd. grew its position in CVS Health by 13.2% in the 1st quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock worth $1,383,039,000 after purchasing an additional 2,375,764 shares during the period. 80.66% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Anne A. Finucane sold 7,500 shares of the firm’s 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 sale, the director 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wolfe Research lifted their target price on shares of CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday. UBS Group raised shares of CVS Health from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $67.00 to $79.00 in a research report on Monday, August 18th. Cantor Fitzgerald reissued an “overweight” rating and set a $78.00 price objective on shares of CVS Health in a research report on Tuesday, August 26th. Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Baird R W raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.25.

CVS Health Price Performance

NYSE CVS opened at $75.28 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The firm’s 50 day moving average price is $68.13 and its 200-day moving average price is $66.70. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $76.24. The company has a market cap of $95.48 billion, a PE ratio of 21.03, a P/E/G ratio of 0.83 and a beta of 0.62.

CVS Health (NYSE:CVS) last posted its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating analysts’ consensus estimates 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%. CVS Health’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Sell-side analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal 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 paid a $0.665 dividend. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.5%. CVS Health’s dividend payout ratio is presently 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.