Forvis Mazars Wealth Advisors LLC Sells 3,946 Shares of CVS Health Corporation $CVS

Key Points

• Forvis Mazars Wealth Advisors LLC reduced its stake in CVS Health Corporation by 18% in Q1, owning 17,990 shares valued at approximately $1.22 million.
• CVS Health reported strong financial performance with an EPS of $1.81, exceeding estimates by $0.35, and revenue increased 8.4% year-over-year.
• The company announced a quarterly dividend of $0.665 per share, resulting in a dividend yield of 3.9% and a payout ratio of 74.30%.

Forvis Mazars Wealth Advisors LLC cut its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 18.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,990 shares of the pharmacy operator's stock after selling 3,946 shares during the quarter. Forvis Mazars Wealth Advisors LLC's holdings in CVS Health were worth $1,219,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CVS. McIlrath & Eck LLC boosted its holdings in shares of CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after acquiring an additional 174 shares during the period. Costello Asset Management INC boosted its holdings in shares of CVS Health by 281.3% in the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock valued at $39,000 after acquiring an additional 422 shares during the period. Stone House Investment Management LLC acquired a new stake in shares of CVS Health in the first quarter valued at approximately $39,000. Park Square Financial Group LLC acquired a new stake in shares of CVS Health in the fourth quarter valued at approximately $43,000. Finally, GW&K Investment Management LLC boosted its holdings in shares of CVS Health by 39.4% in the first quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock valued at $43,000 after acquiring an additional 180 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CVS Health

In related news, Director Guy P. Sansone acquired 1,570 shares of the business's stock in a transaction on Thursday, June 5th. The shares were purchased at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the acquisition, the director owned 12,007 shares in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.22% of the stock is owned by company insiders.

CVS Health Stock Performance

Shares of CVS stock traded up $0.5810 on Thursday, hitting $71.4010. 7,030,042 shares of the stock traded hands, compared to its average volume of 9,854,745. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $72.51. 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 fifty day moving average is $65.33 and its 200 day moving average is $64.90. The company has a market capitalization of $90.56 billion, a PE ratio of 19.94, a PEG ratio of 0.78 and a beta of 0.58.

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. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same period last year, the company earned $1.83 earnings per share. The firm'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. On average, equities research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 3.7%. CVS Health's dividend payout ratio (DPR) is currently 74.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CVS shares. Morgan Stanley increased their price target on CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Cowen reaffirmed a "buy" rating on shares of CVS Health in a report on Monday, August 4th. Truist Financial increased their price target on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Finally, Jefferies Financial Group increased their price objective on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $76.67.

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.