Ascent Group LLC bought a new position in CVS Health Corporation (NYSE:CVS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,339 shares of the pharmacy operator's stock, valued at approximately $497,000.
Several other hedge funds have also recently made changes to their positions in the stock. Essex Financial Services Inc. increased its holdings in CVS Health by 0.8% during the first quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock valued at $1,403,000 after buying an additional 166 shares during the last quarter. Hemington Wealth Management boosted its holdings in shares of CVS Health by 33.7% during the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock valued at $46,000 after purchasing an additional 172 shares during the last quarter. McIlrath & Eck LLC grew its holdings in CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after buying an additional 174 shares in the last quarter. Sumitomo Life Insurance Co. raised its stake in CVS Health by 1.0% during the first quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator's stock valued at $1,159,000 after purchasing an additional 174 shares in the last quarter. Finally, Koshinski Asset Management Inc. boosted its holdings in shares of CVS Health by 3.7% in the 1st quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock worth $334,000 after purchasing an additional 178 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at CVS Health
In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the sale, the director owned 22,156 shares of the company's stock, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.22% of the stock is owned by company insiders.
CVS Health Stock Up 0.4%
Shares of CVS stock traded up $0.33 during trading hours on Friday, reaching $75.00. 6,400,711 shares of the company's stock were exchanged, compared to its average volume of 6,903,319. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $75.55. The stock's 50 day moving average is $67.11 and its 200-day moving average is $66.30. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The company has a market cap of $95.12 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 0.82 and a beta of 0.62.
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 for the quarter, topping 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 during the quarter, compared to the consensus estimate of $94.87 billion. During the same quarter last year, the company earned $1.83 earnings per share. The company's quarterly revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.
CVS Health Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.5%. CVS Health's payout ratio is 74.30%.
Analysts Set New Price Targets
Several research firms have recently weighed in on CVS. Bernstein Bank decreased their target price on CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a research report on Wednesday, July 16th. Zacks Research cut shares of CVS Health from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Sanford C. Bernstein upped their price target on shares of CVS Health from $72.00 to $77.00 and gave the stock a "market perform" rating in a research report on Friday, September 5th. UBS Group raised shares of CVS Health from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $67.00 to $79.00 in a report on Monday, August 18th. Finally, Jefferies Financial Group upped their target price on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $77.89.
Check Out Our Latest Analysis on CVS
CVS Health Profile
(
Free Report)
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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