Wealth Watch Advisors INC Purchases 397 Shares of CVS Health Corporation $CVS

Wealth Watch Advisors INC boosted its holdings in shares of CVS Health Corporation (NYSE:CVS) by 8.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 5,205 shares of the pharmacy operator’s stock after buying an additional 397 shares during the period. Wealth Watch Advisors INC’s holdings in CVS Health were worth $367,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CVS. Hazlett Burt & Watson Inc. increased its position in shares of CVS Health by 10.9% in the second quarter. Hazlett Burt & Watson Inc. now owns 1,682 shares of the pharmacy operator’s stock worth $117,000 after purchasing an additional 165 shares during the last quarter. Essex Financial Services Inc. increased its holdings in shares of CVS Health by 0.8% in the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator’s stock worth $1,403,000 after buying an additional 166 shares during the last quarter. Williams Financial LLC raised 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 buying an additional 167 shares in the last quarter. Hemington Wealth Management lifted its holdings 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 worth $46,000 after acquiring an additional 172 shares during the last quarter. Finally, Sumitomo Life Insurance Co. grew its position in CVS Health by 1.0% in the first quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator’s stock worth $1,159,000 after acquiring an additional 174 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Up 1.1%

Shares of CVS Health stock opened at $81.95 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $83.52. The company’s 50 day moving average price is $75.57 and its 200-day moving average price is $68.66. The stock has a market capitalization of $103.94 billion, a price-to-earnings ratio of 22.89, a P/E/G ratio of 0.90 and a beta of 0.60.

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

CVS Health Dividend Announcement

The firm also recently announced 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 dividend yield of 3.2%. CVS Health’s dividend payout ratio (DPR) is presently 74.30%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CVS. Wolfe Research lifted their price target on CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Bernstein Bank cut their target price on 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. Wells Fargo & Company lifted their price target on shares of CVS Health from $84.00 to $103.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $78.00 price objective on shares of CVS Health in a research note on Tuesday, August 26th. Finally, Truist Financial set a $92.00 target price on shares of CVS Health in a research report on Tuesday, October 14th. Two 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. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $83.38.

Insider Buying and Selling

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the 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 sale, the director 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.22% of the stock is owned by insiders.

CVS Health 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.