CVS Health Corporation $CVS Position Boosted by Sound Income Strategies LLC

Sound Income Strategies LLC raised its holdings in shares of CVS Health Corporation (NYSE:CVS) by 32.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,774 shares of the pharmacy operator’s stock after acquiring an additional 677 shares during the quarter. Sound Income Strategies LLC’s holdings in CVS Health were worth $191,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jennison Associates LLC grew its stake in CVS Health by 503.8% during the 1st quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator’s stock valued at $128,477,000 after acquiring an additional 1,582,257 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of CVS Health by 25.0% during the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator’s stock valued at $43,920,000 after buying an additional 129,535 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of CVS Health by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator’s stock valued at $608,481,000 after buying an additional 183,813 shares during the last quarter. Brandywine Global Investment Management LLC lifted its holdings in shares of CVS Health by 20.1% during the 1st quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator’s stock valued at $231,808,000 after buying an additional 572,533 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of CVS Health by 122.5% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 565,152 shares of the pharmacy operator’s stock valued at $38,289,000 after buying an additional 311,098 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analysts Set New Price Targets

CVS has been the subject of several research reports. Wolfe Research lifted their price target on CVS Health from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Morgan Stanley lifted their price target on CVS Health from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Wall Street Zen upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. Robert W. Baird upgraded CVS Health from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $71.00 to $82.00 in a report on Thursday, August 14th. Finally, Cowen restated a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.25.

CVS Health Stock Down 0.3%

Shares of CVS stock opened at $75.31 on Wednesday. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $77.34. The firm has a market cap of $95.52 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 0.83 and a beta of 0.62. The stock has a 50 day moving average of $69.70 and a 200-day moving average of $67.13. 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 issued its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping 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 company had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. During the same period in the previous year, the company earned $1.83 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be given a dividend of $0.665 per share. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.5%. CVS Health’s payout ratio is currently 74.30%.

Insider Activity

In other news, Director Anne A. Finucane sold 7,500 shares of the business’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 transaction of $532,650.00. Following the sale, the director directly owned 22,156 shares in the company, 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 SEC, which is accessible through the SEC website. Corporate insiders own 1.22% of the company’s stock.

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.