Empowered Funds LLC Sells 100,683 Shares of CVS Health Corporation $CVS

Empowered Funds LLC lowered its holdings in CVS Health Corporation (NYSE:CVS) by 47.6% in the second quarter, Holdings Channel reports. The firm owned 110,801 shares of the pharmacy operator’s stock after selling 100,683 shares during the quarter. Empowered Funds LLC’s holdings in CVS Health were worth $7,643,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Avion Wealth grew its holdings in CVS Health by 99.0% during 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 period. Harbor Asset Planning Inc. bought a new position in CVS Health during the second quarter worth about $30,000. Bell Investment Advisors Inc boosted 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 buying an additional 248 shares during the period. Roxbury Financial LLC grew its holdings in shares of CVS Health by 78.3% during the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 202 shares in the last quarter. Finally, ORG Partners LLC increased its holdings in CVS Health by 418.9% in the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 377 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the topic of a number of research analyst reports. Royal Bank Of Canada raised their target price on shares of CVS Health from $81.00 to $93.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Raymond James Financial upped their price objective on shares of CVS Health from $75.00 to $90.00 in a research note on Friday, October 31st. UBS Group lifted their target price on CVS Health from $79.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Morgan Stanley increased their price objective on shares of CVS Health from $82.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Finally, Truist Financial restated a “buy” rating and set a $95.00 price target (up previously from $92.00) on shares of CVS Health in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company 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 $76.52 on Thursday. The stock’s 50-day simple moving average is $78.03 and its two-hundred day simple moving average is $70.14. The firm has a market capitalization of $97.13 billion, a P/E ratio of 201.36, a P/E/G ratio of 0.87 and a beta of 0.60. The company has a quick ratio of 0.62, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $85.15.

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

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.5%. CVS Health’s payout ratio is presently 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.