Toth Financial Advisory Corp Increases Holdings in CVS Health Corporation $CVS

Key Points

• Toth Financial Advisory Corp has increased its stake in CVS Health Corporation by 65.4%, acquiring an additional 24,306 shares, bringing their total holdings to 61,455 shares valued at approximately $4.24 million.
• CVS Health reported quarterly earnings of $1.81 per share, exceeding analyst expectations of $1.46, with revenues reaching $98.92 billion, reflecting an 8.4% increase year-over-year.
• The company has announced a quarterly dividend of $0.665 per share, translating to an annualized dividend of $2.66 and a yield of 3.5%, with the payment scheduled for November 3rd.

Toth Financial Advisory Corp boosted its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 65.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,455 shares of the pharmacy operator's stock after acquiring an additional 24,306 shares during the period. Toth Financial Advisory Corp's holdings in CVS Health were worth $4,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CVS. Essex Financial Services Inc. grew its stake in CVS Health by 0.8% in the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock valued at $1,403,000 after acquiring an additional 166 shares during the period. Williams Financial LLC increased its stake in CVS Health by 2.5% during the second quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator's stock worth $478,000 after purchasing an additional 167 shares during the period. Hemington Wealth Management increased its stake in CVS Health by 33.7% during the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock worth $46,000 after purchasing an additional 172 shares during the period. Sumitomo Life Insurance Co. grew its position in shares of CVS Health by 1.0% during the first quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator's stock worth $1,159,000 after buying an additional 174 shares in the last quarter. Finally, Koshinski Asset Management Inc. boosted its holdings in CVS Health by 3.7% in the first quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock valued at $334,000 after purchasing an additional 178 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Stock Performance

NYSE:CVS traded up $0.53 during mid-day trading on Friday, hitting $74.95. 13,414,318 shares of the company's stock traded hands, compared to its average volume of 7,002,839. The firm has a 50 day moving average of $67.91 and a two-hundred day moving average of $66.64. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $76.24. The firm has a market capitalization of $95.06 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 0.83 and a beta of 0.62. 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 released its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. The firm had revenue of $98.92 billion during the quarter, compared to analysts' expectations of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The business's revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be issued a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.5%. CVS Health's dividend payout ratio (DPR) is 74.30%.

Analysts Set New Price Targets

CVS has been the subject of several analyst reports. Baird R W upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Cantor Fitzgerald reiterated an "overweight" rating and set a $78.00 price objective on shares of CVS Health in a research report on Tuesday, August 26th. UBS Group raised CVS Health from a "neutral" rating to a "buy" rating and raised their price target for the stock from $67.00 to $79.00 in a research note on Monday, August 18th. Wall Street Zen raised shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and raised their target price for the company from $71.00 to $82.00 in a report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, CVS Health has a consensus rating of "Moderate Buy" and an average price target of $77.89.

Insider Transactions at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the transaction, the director directly owned 22,156 shares of the company's stock, valued at approximately $1,573,519.12. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.22% of the stock is currently owned by corporate insiders.

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.