Portside Wealth Group LLC Decreases Stake in CVS Health Corporation $CVS

Portside Wealth Group LLC trimmed its holdings in CVS Health Corporation (NYSE:CVS) by 2.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 29,937 shares of the pharmacy operator’s stock after selling 898 shares during the period. Portside Wealth Group LLC’s holdings in CVS Health were worth $2,065,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in CVS. Avion Wealth boosted its holdings in CVS Health by 99.0% in the second quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock worth $26,000 after purchasing an additional 189 shares during the last quarter. Harbor Asset Planning Inc. bought a new position in shares of CVS Health during the 2nd quarter valued at $30,000. Bell Investment Advisors Inc boosted its stake in shares of CVS Health by 119.8% in the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock worth $31,000 after buying an additional 248 shares during the last quarter. Roxbury Financial LLC grew its holdings in shares of CVS Health by 78.3% in 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 during the period. Finally, ORG Partners LLC increased its position in CVS Health by 418.9% during the second quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 377 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Buying and Selling

In related news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.22% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on CVS shares. Sanford C. Bernstein raised 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. Argus raised their price objective on shares of CVS Health from $80.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Cowen reaffirmed a “buy” rating on shares of CVS Health in a report on Monday, August 4th. The Goldman Sachs Group started coverage on shares of CVS Health in a research report on Tuesday, October 14th. They issued a “buy” rating and a $91.00 price target on the stock. Finally, Truist Financial reissued a “buy” rating and set a $95.00 price objective (up previously from $92.00) on shares of CVS Health in a research report on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.41.

CVS Health Price Performance

Shares of NYSE:CVS opened at $78.24 on Tuesday. The firm’s 50 day simple moving average is $77.86 and its two-hundred day simple moving average is $70.02. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.62. The company has a market capitalization of $99.32 billion, a P/E ratio of 205.89, a P/E/G ratio of 0.87 and a beta of 0.60. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $85.15.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, October 29th. The pharmacy operator reported $1.60 EPS for the quarter, beating the consensus estimate of $1.36 by $0.24. The firm had revenue of $102.87 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned $1.09 EPS. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. Research analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 23rd were given a dividend of $0.665 per share. The ex-dividend date 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 currently 700.00%.

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.