Ritholtz Wealth Management Boosts Holdings in CVS Health Corporation $CVS

Key Points

• Ritholtz Wealth Management increased its holdings in CVS Health by 35% during the second quarter, now owning 14,866 shares valued at approximately $1,025,000.
• CVS Health reported earnings of $1.81 per share for the latest quarter, exceeding expectations by $0.35, and recorded revenues of $98.92 billion, an 8.4% increase year-over-year.
• The company also announced a quarterly dividend of $0.665 per share, with a 3.2% yield and a dividend payout ratio of 74.30%.

Ritholtz Wealth Management raised its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 35.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,866 shares of the pharmacy operator's stock after purchasing an additional 3,857 shares during the period. Ritholtz Wealth Management's holdings in CVS Health were worth $1,025,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Sagespring Wealth Partners LLC lifted its holdings in CVS Health by 15.7% during the second quarter. Sagespring Wealth Partners LLC now owns 14,735 shares of the pharmacy operator's stock valued at $1,016,000 after purchasing an additional 1,994 shares in the last quarter. TD Asset Management Inc raised its position in shares of CVS Health by 14.6% in the second quarter. TD Asset Management Inc now owns 1,220,961 shares of the pharmacy operator's stock valued at $84,222,000 after buying an additional 155,993 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of CVS Health by 1.8% in the second quarter. Wilmington Savings Fund Society FSB now owns 14,999 shares of the pharmacy operator's stock valued at $1,035,000 after buying an additional 268 shares during the last quarter. Morningstar Investment Management LLC acquired a new stake in shares of CVS Health in the second quarter valued at about $449,000. Finally, Revolve Wealth Partners LLC acquired a new stake in shares of CVS Health in the second quarter valued at about $203,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Up 1.6%

Shares of CVS stock opened at $82.64 on Friday. 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 firm has a market cap of $104.81 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 0.90 and a beta of 0.60. The company has a 50-day moving average of $74.00 and a two-hundred day moving average of $68.12. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $82.88.

CVS Health (NYSE:CVS - Get Free Report) last announced 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. The company had revenue of $98.92 billion during 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%. CVS Health's revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

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

Insiders Place Their Bets

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction 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. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CVS has been the subject of a number of recent research reports. Morgan Stanley increased their target price on shares of CVS Health from $82.00 to $89.00 and gave the company an "overweight" rating in a research report on Tuesday. 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. Zacks Research cut shares of CVS Health from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Cowen restated a "buy" rating on shares of CVS Health in a research report on Monday, August 4th. Finally, The Goldman Sachs Group started coverage on shares of CVS Health in a research report on Tuesday. They set a "buy" rating and a $91.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $82.57.

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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