13,288 Shares in CVS Health Corporation $CVS Purchased by Friedenthal Financial

Friedenthal Financial bought a new position in shares of CVS Health Corporation (NYSE:CVS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 13,288 shares of the pharmacy operator's stock, valued at approximately $917,000.

Several other hedge funds have also recently bought and sold shares of the company. Shell Asset Management Co. lifted its stake in CVS Health by 33.5% during the 2nd quarter. Shell Asset Management Co. now owns 61,776 shares of the pharmacy operator's stock worth $4,261,000 after acquiring an additional 15,491 shares in the last quarter. KLP Kapitalforvaltning AS lifted its stake in CVS Health by 18.8% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 549,303 shares of the pharmacy operator's stock worth $37,891,000 after acquiring an additional 87,000 shares in the last quarter. Avantra Family Wealth Inc. lifted its stake in CVS Health by 9.7% during the 2nd quarter. Avantra Family Wealth Inc. now owns 17,537 shares of the pharmacy operator's stock worth $1,210,000 after acquiring an additional 1,555 shares in the last quarter. SteelPeak Wealth LLC acquired a new stake in CVS Health in the 2nd quarter valued at about $8,572,000. Finally, Eads & Heald Wealth Management raised its position in CVS Health by 4.9% in the 2nd quarter. Eads & Heald Wealth Management now owns 11,660 shares of the pharmacy operator's stock valued at $804,000 after purchasing an additional 548 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Zacks Research lowered CVS Health from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Bernstein Bank reduced their price target on CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 16th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $78.00 price target on shares of CVS Health in a research report on Tuesday, August 26th. Sanford C. Bernstein increased their price target on CVS Health from $72.00 to $77.00 and gave the company a "market perform" rating in a research report on Friday, September 5th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of CVS Health in a research report on Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $79.20.

CVS Health Price Performance

Shares of NYSE CVS opened at $77.17 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $79.20. The firm has a market capitalization of $97.88 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 0.85 and a beta of 0.60. The stock's 50-day simple moving average is $71.39 and its 200-day simple moving average is $67.46.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results 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. The business had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The business's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Thursday, October 23rd. CVS Health's dividend payout ratio (DPR) is currently 74.30%.

Insider Transactions at CVS Health

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 stock was 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 in the company, valued at $1,573,519.12. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.22% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.