Axiom Financial Strategies LLC Invests $229,000 in CVS Health Corporation $CVS

Axiom Financial Strategies LLC purchased a new position in CVS Health Corporation (NYSE:CVS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,317 shares of the pharmacy operator's stock, valued at approximately $229,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hazlett Burt & Watson Inc. raised its stake in CVS Health by 10.9% during the second quarter. Hazlett Burt & Watson Inc. now owns 1,682 shares of the pharmacy operator's stock worth $117,000 after purchasing an additional 165 shares during the period. Essex Financial Services Inc. raised its stake 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 worth $1,403,000 after purchasing an additional 166 shares during the period. Williams Financial LLC raised its stake in CVS Health by 2.5% during the second quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator's stock worth $478,000 after purchasing an additional 167 shares during the period. Hemington Wealth Management raised its stake in CVS Health by 33.7% during the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock worth $46,000 after purchasing an additional 172 shares during the period. Finally, 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 worth $1,159,000 after purchasing an additional 174 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on CVS shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of CVS Health in a research note on Tuesday, October 14th. Baird R W upgraded shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Barclays lifted their price target on shares of CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a research report on Thursday, September 4th. The Goldman Sachs Group started coverage on shares of CVS Health in a research report on Tuesday, October 14th. They set a "buy" rating and a $91.00 price target for the company. Finally, Sanford C. Bernstein lifted their price target on shares of CVS Health from $72.00 to $77.00 and gave the company a "market perform" rating in a research report on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $82.57.

CVS Health Trading Down 1.2%

NYSE CVS opened at $82.08 on Thursday. 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 52 week low of $43.56 and a 52 week high of $83.52. The stock has a market capitalization of $104.11 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 0.92 and a beta of 0.60. The firm has a 50 day moving average of $75.02 and a two-hundred day moving average of $68.45.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping the consensus estimate of $1.46 by $0.35. The company had revenue of $98.92 billion during the quarter, compared to analysts' expectations of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The firm's revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, research analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Thursday, October 23rd. CVS Health's payout ratio is currently 74.30%.

Insider Buying and Selling

In related news, Director Anne A. Finucane sold 7,500 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the sale, the director owned 22,156 shares in the company, valued at $1,573,519.12. This represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is currently owned by company insiders.

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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