CVS Health Corporation $CVS Stake Lifted by Allworth Financial LP

Allworth Financial LP increased its position in shares of CVS Health Corporation (NYSE:CVS) by 3.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,842 shares of the pharmacy operator’s stock after purchasing an additional 1,017 shares during the period. Allworth Financial LP’s holdings in CVS Health were worth $1,852,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in shares of CVS Health by 87.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator’s stock valued at $672,598,000 after buying an additional 4,632,530 shares during the period. Dodge & Cox raised its position in CVS Health by 4.8% in the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock worth $4,976,856,000 after acquiring an additional 3,353,223 shares in the last quarter. Nuveen LLC acquired a new stake in CVS Health in the 1st quarter valued at about $204,421,000. Invesco Ltd. grew its stake in shares of 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 last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of CVS Health by 815.2% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,663,111 shares of the pharmacy operator’s stock worth $183,701,000 after purchasing an additional 2,372,121 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Trading Down 1.2%

CVS Health stock opened at $79.32 on Friday. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $85.15. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. The stock has a market cap of $100.69 billion, a P/E ratio of 208.74, a P/E/G ratio of 0.87 and a beta of 0.60. The company’s fifty day simple moving average is $77.61 and its 200-day simple moving average is $69.81.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.24. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.The firm had revenue of $102.87 billion during the quarter, compared to analysts’ expectations of $98.85 billion. During the same quarter last year, the firm earned $1.09 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. As a group, sell-side analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 23rd were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, October 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.4%. CVS Health’s payout ratio is presently 700.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. TD Cowen raised their target price on shares of CVS Health from $99.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Leerink Partners raised their price objective on CVS Health from $86.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Mizuho lifted their target price on CVS Health from $76.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Argus increased their price target on CVS Health from $80.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, Morgan Stanley boosted their price objective on CVS Health from $82.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $89.41.

Insider Buying and Selling

In related news, Director Anne A. Finucane sold 7,500 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,573,519.12. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.22% of the company’s stock.

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.