CapWealth Advisors LLC Sells 35,021 Shares of CVS Health Corporation $CVS

Key Points

• CapWealth Advisors LLC decreased its stake in CVS Health Corporation by 9.7%, selling 35,021 shares during the second quarter, now holding 326,833 shares.
• CVS Health reported a better-than-expected quarterly earnings of $1.81 per share, exceeding the analysts' consensus estimate by $0.35, with revenue of $98.92 billion.
• The company also declared a quarterly dividend of $0.665 per share, representing an annualized yield of 3.2%, payable on November 3rd.

CapWealth Advisors LLC decreased its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 9.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 326,833 shares of the pharmacy operator's stock after selling 35,021 shares during the period. CVS Health accounts for about 2.2% of CapWealth Advisors LLC's holdings, making the stock its 17th biggest position. CapWealth Advisors LLC's holdings in CVS Health were worth $22,545,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in CVS. GAMMA Investing LLC raised its position in CVS Health by 198.5% in the first quarter. GAMMA Investing LLC now owns 18,669 shares of the pharmacy operator's stock worth $1,265,000 after acquiring an additional 12,415 shares during the period. Mission Wealth Management LP bought a new stake in shares of CVS Health in the first quarter valued at approximately $259,000. CWA Asset Management Group LLC bought a new stake in shares of CVS Health in the first quarter valued at approximately $366,000. Institute for Wealth Management LLC. bought a new stake in shares of CVS Health in the first quarter valued at approximately $227,000. Finally, Silver Oak Securities Incorporated bought a new stake in shares of CVS Health in the first quarter valued at approximately $292,000. Institutional investors own 80.66% of the company's stock.

CVS Health Price Performance

Shares of NYSE:CVS opened at $82.64 on Friday. The company has a 50 day moving average of $74.00 and a 200 day moving average of $68.12. The stock has a market cap of $104.81 billion, a P/E ratio of 23.08, a P/E/G ratio of 0.90 and a beta of 0.60. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $82.88. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

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

CVS Health Announces Dividend

The business also recently declared 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. This represents a $2.66 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health's payout ratio is currently 74.30%.

Insider Buying and Selling

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the business's stock in a transaction that occurred 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 transaction, the director owned 22,156 shares of the company's stock, valued at $1,573,519.12. The trade was a 25.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.22% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CVS has been the topic of several research reports. Leerink Partners boosted their price target on shares of CVS Health from $86.00 to $95.00 and gave the company an "outperform" rating in a research report on Thursday. Wells Fargo & Company boosted their price target on shares of CVS Health from $84.00 to $103.00 and gave the company an "overweight" rating in a research report on Tuesday, October 7th. Truist Financial set a $92.00 price target on shares of CVS Health in a research report on Tuesday. Wall Street Zen raised shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Sunday, September 21st. Finally, Morgan Stanley boosted their price objective on shares of CVS Health from $82.00 to $89.00 and gave the company an "overweight" rating in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, CVS Health has a consensus rating of "Moderate Buy" and a consensus price target of $82.57.

CVS Health 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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