Venturi Wealth Management LLC Takes $259,000 Position in CVS Health Corporation $CVS

Key Points

• Venturi Wealth Management LLC has acquired a new stake in CVS Health Corporation, purchasing 3,752 shares valued at approximately $259,000 in the second quarter.
• Wall Street analysts are optimistic about CVS Health, with various firms increasing their target prices, including Wells Fargo raising it from $84.00 to $103.00, suggesting strong growth potential.
• CVS Health will pay a quarterly dividend of $0.665 per share on November 3rd, representing an annualized dividend yield of 3.4%.

Venturi Wealth Management LLC bought a new stake in CVS Health Corporation (NYSE:CVS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,752 shares of the pharmacy operator's stock, valued at approximately $259,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bell Investment Advisors Inc grew its stake in shares of CVS Health by 119.8% in the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator's stock valued at $31,000 after acquiring an additional 248 shares in the last quarter. Roxbury Financial LLC raised its stake in CVS Health by 78.3% during the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator's stock worth $32,000 after acquiring an additional 202 shares in the last quarter. ORG Partners LLC raised its stake in CVS Health by 418.9% during the second quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator's stock worth $32,000 after acquiring an additional 377 shares in the last quarter. Saudi Central Bank acquired a new position in CVS Health during the first quarter worth about $34,000. Finally, Livelsberger Financial Advisory bought a new position in CVS Health in the 2nd quarter valued at approximately $35,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CVS shares. Wells Fargo & Company increased their target price on shares of CVS Health from $84.00 to $103.00 and gave the company an "overweight" rating in a research report on Tuesday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $78.00 target price on shares of CVS Health in a report on Tuesday, August 26th. Wolfe Research raised their price objective on CVS Health from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. Sanford C. Bernstein raised their price objective on CVS Health from $72.00 to $77.00 and gave the company a "market perform" rating in a research note on Friday, September 5th. Finally, Barclays boosted their price target on shares of CVS Health from $80.00 to $87.00 and gave the stock an "overweight" rating in a report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, CVS Health has an average rating of "Moderate Buy" and a consensus price target of $79.80.

CVS Health Price Performance

CVS stock opened at $77.89 on Friday. The firm has a 50 day moving average of $72.28 and a 200-day moving average of $67.67. 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 Corporation has a 12 month low of $43.56 and a 12 month high of $79.20. The firm has a market capitalization of $98.79 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 0.85 and a beta of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 EPS 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 company had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. During the same quarter in the previous year, the firm earned $1.83 earnings per share. CVS Health'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. As a group, sell-side analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders 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 3.4%. CVS Health's payout ratio is presently 74.30%.

Insider Activity at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was 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 approximately $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.22% of the company's stock.

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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