Advisors Asset Management Inc. Decreases Position in CVS Health Corporation $CVS

Advisors Asset Management Inc. reduced its stake in shares of CVS Health Corporation (NYSE:CVS) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 189,729 shares of the pharmacy operator’s stock after selling 1,630 shares during the quarter. Advisors Asset Management Inc.’s holdings in CVS Health were worth $13,088,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cetera Investment Advisers boosted its position in CVS Health by 8.2% in the 1st quarter. Cetera Investment Advisers now owns 344,963 shares of the pharmacy operator’s stock valued at $23,371,000 after buying an additional 26,184 shares during the last quarter. Mediolanum International Funds Ltd boosted its holdings in CVS Health by 12.5% in the first quarter. Mediolanum International Funds Ltd now owns 25,989 shares of the pharmacy operator’s stock valued at $1,745,000 after purchasing an additional 2,878 shares during the last quarter. HB Wealth Management LLC increased its holdings in CVS Health by 64.2% during the 1st quarter. HB Wealth Management LLC now owns 32,893 shares of the pharmacy operator’s stock worth $2,229,000 after purchasing an additional 12,864 shares during the last quarter. TD Asset Management Inc raised its position in shares of CVS Health by 34.7% in the 1st quarter. TD Asset Management Inc now owns 1,064,968 shares of the pharmacy operator’s stock valued at $72,152,000 after purchasing an additional 274,164 shares in the last quarter. Finally, TCW Group Inc. boosted its stake in shares of CVS Health by 5.7% during the 1st quarter. TCW Group Inc. now owns 18,603 shares of the pharmacy operator’s stock valued at $1,260,000 after buying an additional 1,002 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CVS. Leerink Partners upped their price target on shares of CVS Health from $86.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Jefferies Financial Group upped their target price on shares of CVS Health from $92.00 to $98.00 in a research note on Thursday, October 30th. Robert W. Baird upgraded CVS Health from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $71.00 to $82.00 in a research note on Thursday, August 14th. Cowen reissued a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Finally, Piper Sandler increased their target price on CVS Health from $81.00 to $99.00 in a report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.41.

CVS Health Stock Performance

CVS opened at $77.90 on Tuesday. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $85.15. The stock has a market cap of $98.89 billion, a PE ratio of 205.01, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The business’s 50 day moving average is $78.21 and its 200-day moving average is $70.38. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.83.

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

CVS Health Announces Dividend

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

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.