D.A. Davidson & CO. Buys 23,403 Shares of CVS Health Corporation $CVS

D.A. Davidson & CO. grew its stake in CVS Health Corporation (NYSE:CVS) by 12.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 204,761 shares of the pharmacy operator’s stock after purchasing an additional 23,403 shares during the period. D.A. Davidson & CO.’s holdings in CVS Health were worth $14,124,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of CVS Health by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator’s stock valued at $8,017,223,000 after purchasing an additional 969,027 shares during the last quarter. Dodge & Cox raised its holdings in shares of CVS Health by 4.8% in the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock worth $4,976,856,000 after buying an additional 3,353,223 shares during the period. Invesco Ltd. raised its holdings in shares of CVS Health by 13.2% in the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock worth $1,383,039,000 after buying an additional 2,375,764 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of CVS Health by 14.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator’s stock worth $1,037,205,000 after buying an additional 1,942,886 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of CVS Health by 5.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator’s stock worth $924,643,000 after buying an additional 728,924 shares during the period. 80.66% of the stock is owned by institutional investors.

CVS Health Trading Down 1.2%

Shares of NYSE:CVS opened at $82.08 on Thursday. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $83.52. The business’s fifty day simple moving average is $75.02 and its 200-day simple moving average is $68.45. The company has a market capitalization of $104.11 billion, a PE ratio of 22.93, a P/E/G ratio of 0.92 and a beta of 0.60. 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) last announced its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The business had revenue of $98.92 billion for the quarter, compared to the consensus estimate of $94.87 billion. During the same period last year, the business posted $1.83 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be issued a $0.665 dividend. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.2%. CVS Health’s dividend payout ratio (DPR) is currently 74.30%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVS. Cowen reiterated a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Robert W. Baird upgraded CVS Health from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $71.00 to $82.00 in a report on Thursday, August 14th. Baird R W upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Barclays raised their price objective on CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. Finally, Wall Street Zen upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.57.

Insider Activity

In other news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the transaction, the director directly owned 22,156 shares in the company, valued at approximately $1,573,519.12. This trade represents a 25.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.22% of the company’s stock.

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.