RFG Advisory LLC Lowers Position in CVS Health Corporation $CVS

RFG Advisory LLC cut its position in shares of CVS Health Corporation (NYSE:CVS) by 27.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,798 shares of the pharmacy operator’s stock after selling 2,186 shares during the quarter. RFG Advisory LLC’s holdings in CVS Health were worth $400,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Hazlett Burt & Watson Inc. increased its position in shares of CVS Health by 10.9% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,682 shares of the pharmacy operator’s stock valued at $117,000 after purchasing an additional 165 shares during the last quarter. Essex Financial Services Inc. increased its position in shares of CVS Health by 0.8% during the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator’s stock valued at $1,403,000 after purchasing an additional 166 shares during the last quarter. Williams Financial LLC increased its position in shares of CVS Health by 2.5% during the 2nd quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator’s stock valued at $478,000 after purchasing an additional 167 shares during the last quarter. Hemington Wealth Management increased its position in shares of CVS Health by 33.7% during the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator’s stock valued at $46,000 after purchasing an additional 172 shares during the last quarter. Finally, Sumitomo Life Insurance Co. increased its position in shares of CVS Health by 1.0% during the 1st quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator’s stock valued at $1,159,000 after purchasing an additional 174 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Truist Financial set a $92.00 price target on CVS Health in a research report on Tuesday. Wolfe Research raised their price target on CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Wall Street Zen upgraded CVS Health from a “hold” rating to a “buy” rating in a research report on Sunday, September 21st. The Goldman Sachs Group started coverage on CVS Health in a research report on Tuesday. They issued a “buy” rating and a $91.00 price objective on the stock. Finally, Mizuho lifted their price objective on CVS Health from $76.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.57.

Insider Activity at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director owned 22,156 shares in the company, valued at $1,573,519.12. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.22% of the stock is currently owned by insiders.

CVS Health Trading Up 1.6%

CVS opened at $82.64 on Friday. The stock has a market cap of $104.81 billion, a PE ratio of 23.08, a PEG ratio of 0.91 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. The business has a 50 day moving average of $74.00 and a 200-day moving average of $68.12. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $82.88.

CVS Health (NYSE:CVS) last released its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.35. The company had revenue of $98.92 billion during the quarter, compared to analysts’ expectations of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. 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 company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is presently 74.30%.

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.