CVS Health Corporation $CVS Stock Holdings Decreased by Alpha Omega Wealth Management LLC

Key Points

• Alpha Omega Wealth Management LLC decreased its stake in CVS Health Corporation by 10.4%, owning 133,484 shares worth approximately $9.2 million after selling 15,435 shares in the latest quarter.
• Several institutional investors have increased their holdings in CVS Health, with Vanguard Group Inc., Dodge & Cox, and Invesco Ltd. among those boosting their investments by up to 14.5% in the first quarter.
• Analysts have a generally positive outlook on CVS Health, with multiple firms upgrading their ratings and price targets, indicating a consensus average rating of "Moderate Buy" and a target price of $78.25.

Alpha Omega Wealth Management LLC lowered its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 10.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 133,484 shares of the pharmacy operator's stock after selling 15,435 shares during the period. CVS Health accounts for approximately 1.6% of Alpha Omega Wealth Management LLC's holdings, making the stock its 13th biggest holding. Alpha Omega Wealth Management LLC's holdings in CVS Health were worth $9,208,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of CVS Health by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator's stock valued at $8,017,223,000 after buying an additional 969,027 shares during the period. Dodge & Cox boosted its stake in CVS Health by 4.8% during the 1st quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator's stock valued at $4,976,856,000 after purchasing an additional 3,353,223 shares during the period. Invesco Ltd. boosted its stake in CVS Health by 13.2% during the 1st quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator's stock valued at $1,383,039,000 after purchasing an additional 2,375,764 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in CVS Health by 14.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator's stock valued at $1,037,205,000 after purchasing an additional 1,942,886 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in CVS Health by 5.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator's stock valued at $924,643,000 after purchasing an additional 728,924 shares during the period. Institutional investors own 80.66% of the company's stock.

Insiders Place Their Bets

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the company'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 transaction, the director owned 22,156 shares in the company, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.22% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of CVS Health from a "hold" rating to a "buy" rating in a research note on Sunday. Robert W. Baird raised shares of CVS Health from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $71.00 to $82.00 in a research note on Thursday, August 14th. Barclays upped their price target on shares of CVS Health from $80.00 to $87.00 and gave the stock an "overweight" rating in a research note on Thursday, September 4th. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Finally, UBS Group raised shares of CVS Health from a "neutral" rating to a "buy" rating and upped their price target 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 assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, CVS Health has an average rating of "Moderate Buy" and a consensus target price of $78.25.

CVS Health Stock Up 0.5%

CVS stock opened at $75.28 on Tuesday. The firm has a market capitalization of $95.48 billion, a P/E ratio of 21.03, a P/E/G ratio of 0.83 and a beta of 0.62. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The company's 50 day simple moving average is $68.13 and its 200-day simple moving average is $66.70. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $76.24.

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

CVS Health Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 3.5%. The ex-dividend date is Thursday, October 23rd. CVS Health's dividend payout ratio is currently 74.30%.

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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