Morey & Quinn Wealth Partners LLC Decreases Stake in CVS Health Corporation $CVS

Morey & Quinn Wealth Partners LLC cut its holdings in CVS Health Corporation (NYSE:CVS) by 36.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 11,016 shares of the pharmacy operator’s stock after selling 6,250 shares during the quarter. Morey & Quinn Wealth Partners LLC’s holdings in CVS Health were worth $760,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CVS. Miracle Mile Advisors LLC boosted its position in shares of CVS Health by 17.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 10,474 shares of the pharmacy operator’s stock worth $710,000 after buying an additional 1,543 shares in the last quarter. Park Avenue Securities LLC raised its stake in CVS Health by 5.0% in the 1st quarter. Park Avenue Securities LLC now owns 25,890 shares of the pharmacy operator’s stock valued at $1,754,000 after purchasing an additional 1,244 shares during the last quarter. Farther Finance Advisors LLC raised its stake in CVS Health by 27.2% in the 1st quarter. Farther Finance Advisors LLC now owns 16,278 shares of the pharmacy operator’s stock valued at $1,107,000 after purchasing an additional 3,481 shares during the last quarter. GAMMA Investing LLC raised its stake in CVS Health by 198.5% in the 1st quarter. GAMMA Investing LLC now owns 18,669 shares of the pharmacy operator’s stock valued at $1,265,000 after purchasing an additional 12,415 shares during the last quarter. Finally, Sonora Investment Management Group LLC raised its stake in CVS Health by 36.9% in the 1st quarter. Sonora Investment Management Group LLC now owns 7,234 shares of the pharmacy operator’s stock valued at $490,000 after purchasing an additional 1,950 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Trading Down 0.2%

Shares of CVS stock opened at $76.94 on Thursday. The stock has a 50-day simple moving average of $71.68 and a 200 day simple moving average of $67.52. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $79.20. The stock has a market capitalization of $97.59 billion, a P/E ratio of 21.49, a P/E/G ratio of 0.85 and a beta of 0.60. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.35. The firm had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, sell-side analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 annualized dividend and a yield of 3.5%. CVS Health’s payout ratio is currently 74.30%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CVS shares. Baird R W raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Jefferies Financial Group upped their price objective on shares of CVS Health from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, June 30th. Bernstein Bank dropped their price objective on shares of CVS Health from $78.00 to $72.00 and set a “market perform” rating for the company in a research note on Wednesday, July 16th. Barclays upped their price objective on shares of CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. Finally, Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.20.

Insider Buying and Selling

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the business’s 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.22% of the stock is currently owned by corporate insiders.

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.