CVS Health Corporation $CVS Shares Sold by Quadcap Wealth Management LLC

Key Points

• Quadcap Wealth Management LLC reduced its stake in CVS Health Corporation by 59.8% to 3,789 shares, worth approximately $257,000, after selling 5,628 shares in the 1st quarter.
• CVS Health reported $98.92 billion in revenue for the quarter, exceeding estimates of $94.87 billion, and posted earnings of $1.81 per share, surpassing the consensus estimate by $0.35.
• The company declared a quarterly dividend of $0.665 per share, resulting in an annualized dividend of $2.66 and a yield of 3.7%.

Quadcap Wealth Management LLC cut its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 59.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,789 shares of the pharmacy operator's stock after selling 5,628 shares during the period. Quadcap Wealth Management LLC's holdings in CVS Health were worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Costello Asset Management INC grew its position in CVS Health by 281.3% in the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock worth $39,000 after acquiring an additional 422 shares during the period. Stone House Investment Management LLC purchased a new position in CVS Health in the first quarter worth approximately $39,000. GW&K Investment Management LLC grew its position in CVS Health by 39.4% in the first quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock worth $43,000 after acquiring an additional 180 shares during the period. Hemington Wealth Management grew its position in CVS Health by 33.7% in the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock worth $46,000 after acquiring an additional 172 shares during the period. Finally, McIlrath & Eck LLC lifted its stake in CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 174 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Guy P. Sansone purchased 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The shares were bought at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the transaction, the director owned 12,007 shares in the company, valued at approximately $764,845.90. This trade represents a 15.04% increase in their position. The disclosure for this purchase can be found here. 1.22% of the stock is currently owned by insiders.

CVS Health Stock Performance

Shares of CVS traded up $1.03 during midday trading on Monday, reaching $73.17. 6,391,563 shares of the stock were exchanged, compared to its average volume of 6,107,539. The business's 50-day moving average price is $66.00 and its 200 day moving average price is $65.72. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $73.23. The company has a market capitalization of $92.80 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 0.81 and a beta of 0.62.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarter last year, the company posted $1.83 earnings per share. The business's 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. On average, sell-side analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's payout ratio is currently 74.30%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CVS shares. Baird R W upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Royal Bank Of Canada upped their price target on CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Truist Financial upped their price target on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Morgan Stanley increased their price objective on CVS Health from $80.00 to $82.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $77.56.

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.