Private Wealth Asset Management LLC Sells 482 Shares of CVS Health Corporation $CVS

by · The Cerbat Gem

Private Wealth Asset Management LLC cut its holdings in CVS Health Corporation (NYSE:CVS – Free Report) by 7.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,376 shares of the pharmacy operator’s stock after selling 482 shares during the quarter. Private Wealth Asset Management LLC’s holdings in CVS Health were worth $440,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Hazlett Burt & Watson Inc. boosted its position in CVS Health by 10.9% during 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 period. Essex Financial Services Inc. boosted its holdings in 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 period. Williams Financial LLC grew its stake in CVS Health by 2.5% in 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 raised its holdings in 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 acquiring an additional 172 shares during the period. Finally, Sumitomo Life Insurance Co. boosted its holdings in shares of 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 during the period. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

NYSE CVS opened at $80.75 on Thursday. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $81.93. The company has a fifty day moving average of $73.30 and a 200-day moving average of $67.92. The company has a market capitalization of $102.42 billion, a P/E ratio of 22.56, a P/E/G ratio of 0.88 and a beta of 0.60. 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 (NYSE:CVS – Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The business had revenue of $98.92 billion for the quarter, compared to the consensus estimate of $94.87 billion. During the same quarter last year, the business posted $1.83 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities research analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders 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 3.3%. CVS Health’s dividend payout ratio is currently 74.30%.

Insider Buying and Selling

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the transaction, the director directly owned 22,156 shares of the company’s stock, valued at approximately $1,573,519.12. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of CVS Health in a report on Tuesday. Morgan Stanley raised their price objective on shares of CVS Health from $82.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday. Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. Baird R W raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Finally, Zacks Research cut shares of CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $81.05.

Read Our Latest Report on CVS

CVS Health Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Corporation (NYSE:CVS – Free Report).