Sound View Wealth Advisors Group LLC Lowers Stock Position in CVS Health Corporation $CVS

Sound View Wealth Advisors Group LLC trimmed its holdings in CVS Health Corporation (NYSE:CVS) by 19.0% in the 2nd quarter, Holdings Channel reports. The fund owned 3,423 shares of the pharmacy operator’s stock after selling 803 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in CVS Health were worth $236,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hazlett Burt & Watson Inc. grew its stake in shares of CVS Health by 10.9% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,682 shares of the pharmacy operator’s stock worth $117,000 after buying an additional 165 shares during the last quarter. Williams Financial LLC increased its holdings in shares of CVS Health by 2.5% during the second quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator’s stock valued at $478,000 after acquiring an additional 167 shares in the last quarter. Hemington Wealth Management raised its holdings 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 buying an additional 172 shares during the last quarter. Sumitomo Life Insurance Co. increased 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 valued at $1,159,000 after acquiring an additional 174 shares in the last quarter. Finally, GW&K Investment Management LLC raised its holdings in CVS Health by 39.4% in the 1st 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 last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of NYSE CVS opened at $77.63 on Tuesday. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $85.15. The firm has a market capitalization of $98.55 billion, a price-to-earnings ratio of 204.29, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.83. The firm has a 50 day moving average of $77.24 and a 200 day moving average of $69.56.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.24. The business had revenue of $102.87 billion for the quarter, compared to analysts’ expectations of $98.85 billion. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 EPS. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. On average, research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd were paid a $0.665 dividend. The ex-dividend date of this dividend was Thursday, October 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.4%. CVS Health’s dividend payout ratio (DPR) is 700.00%.

Insider Buying and Selling 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 transaction of $532,650.00. Following the transaction, the director directly owned 22,156 shares of the company’s stock, valued at $1,573,519.12. The trade was a 25.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.22% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on CVS Health in a research note on Tuesday, October 14th. They issued a “buy” rating and a $91.00 price target for the company. Sanford C. Bernstein boosted their target price on CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a research report on Friday, September 5th. Morgan Stanley raised their price target on shares of CVS Health from $82.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Evercore ISI boosted their price objective on shares of CVS Health from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Zacks Research cut shares of CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.45.

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.