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Sound Income Strategies LLC raised its stake in CVS Health Corporation (NYSE:CVS – Free Report) by 32.3% during the second quarter, HoldingsChannel.com reports. The fund owned 2,774 shares of the pharmacy operator’s stock after acquiring an additional 677 shares during the quarter. Sound Income Strategies LLC’s holdings in CVS Health were worth $191,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of CVS. Bell Investment Advisors Inc grew its position 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 acquiring an additional 248 shares during the period. Roxbury Financial LLC grew its position 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 acquiring an additional 202 shares during the period. 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 during the period. Saudi Central Bank bought a new stake in CVS Health in the first quarter valued at $34,000. Finally, Livelsberger Financial Advisory bought a new stake in CVS Health in the second quarter valued at $35,000. 80.66% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the 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 transaction, the director owned 22,156 shares of the company’s stock, valued at approximately $1,573,519.12. This 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 the SEC website. Insiders own 1.22% of the company’s stock.
CVS Health Trading Down 0.3%
Shares of CVS opened at $75.31 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $77.34. The firm has a market capitalization of $95.52 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 0.83 and a beta of 0.62. The stock’s fifty day simple moving average is $69.70 and its 200-day simple moving average is $67.13.
CVS Health (NYSE:CVS – Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating 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 business had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same quarter in the prior year, the firm posted $1.83 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.
CVS Health Announces Dividend
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. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 annualized dividend and a yield of 3.5%. CVS Health’s dividend payout ratio is presently 74.30%.
Wall Street Analyst Weigh In
CVS has been the topic of a number of recent analyst reports. Sanford C. Bernstein boosted their price objective on CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a research note on Friday, September 5th. Jefferies Financial Group boosted their price objective on CVS Health from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, June 30th. Wolfe Research boosted their price objective on CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Zacks Research lowered CVS Health from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Finally, UBS Group raised CVS Health from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $67.00 to $79.00 in a research note on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $78.25.
Check Out Our Latest Analysis on CVS
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.
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