Quadcap Wealth Management LLC Cuts Stock Holdings in CVS Health Corporation $CVS

Quadcap Wealth Management LLC trimmed its stake in CVS Health Corporation (NYSE:CVS) by 59.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,789 shares of the pharmacy operator’s stock after selling 5,628 shares during the period. Quadcap Wealth Management LLC’s holdings in CVS Health were worth $257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Redwood Investment Management LLC raised its position in shares of CVS Health by 14.4% during the 1st quarter. Redwood Investment Management LLC now owns 28,731 shares of the pharmacy operator’s stock valued at $1,947,000 after buying an additional 3,623 shares in the last quarter. Epoch Investment Partners Inc. increased its stake in CVS Health by 49.5% in the first quarter. Epoch Investment Partners Inc. now owns 1,785,786 shares of the pharmacy operator’s stock valued at $120,987,000 after acquiring an additional 591,209 shares during the last quarter. WealthTrust Axiom LLC raised its position in CVS Health by 9.6% during the first quarter. WealthTrust Axiom LLC now owns 10,316 shares of the pharmacy operator’s stock valued at $699,000 after purchasing an additional 901 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in CVS Health by 41.1% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 43,438 shares of the pharmacy operator’s stock worth $2,943,000 after purchasing an additional 12,661 shares during the last quarter. Finally, Comerica Bank boosted its holdings in shares of CVS Health by 6.2% in the 1st quarter. Comerica Bank now owns 291,508 shares of the pharmacy operator’s stock worth $19,750,000 after purchasing an additional 17,070 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Up 0.5%

Shares of CVS opened at $71.94 on Thursday. The stock has a market capitalization of $91.24 billion, a P/E ratio of 20.09, a PEG ratio of 0.79 and a beta of 0.58. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $72.51. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The firm has a fifty day simple moving average of $65.76 and a two-hundred day simple moving average of $65.46.

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

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.7%. CVS Health’s payout ratio is 74.30%.

Insider Activity at CVS Health

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was bought at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the completion of the acquisition, the director directly owned 12,007 shares in the company, valued at $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Bernstein Bank decreased their price objective on CVS Health from $78.00 to $72.00 and set a “market perform” rating on the stock in a report on Wednesday, July 16th. Robert W. Baird raised shares of CVS Health from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $71.00 to $82.00 in a research note on Thursday, August 14th. Cowen reaffirmed a “buy” rating on shares of CVS Health in a research note on Monday, August 4th. Wall Street Zen upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Finally, Royal Bank Of Canada upped their price target on shares of CVS Health from $74.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday, May 5th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $77.56.

About CVS Health

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.