CVS Health Corporation $CVS Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC lessened its stake in CVS Health Corporation (NYSE:CVS) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,981 shares of the pharmacy operator’s stock after selling 179 shares during the quarter. Perigon Wealth Management LLC’s holdings in CVS Health were worth $1,033,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Bell Investment Advisors Inc raised its stake in shares of CVS Health by 119.8% in the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock valued at $31,000 after purchasing an additional 248 shares in the last quarter. Roxbury Financial LLC raised its stake in shares of CVS Health by 78.3% in the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 202 shares in the last quarter. Saudi Central Bank acquired a new stake in shares of CVS Health in the 1st quarter valued at about $34,000. Livelsberger Financial Advisory acquired a new stake in shares of CVS Health in the 2nd quarter valued at about $35,000. Finally, Costello Asset Management INC raised its stake in CVS Health by 281.3% during the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator’s stock worth $39,000 after acquiring an additional 422 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Price Performance

Shares of NYSE:CVS opened at $75.80 on Friday. The firm’s 50 day moving average is $69.13 and its two-hundred day moving average is $66.99. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $77.34. The firm has a market capitalization of $96.14 billion, a P/E ratio of 21.17, a PEG ratio of 0.84 and a beta of 0.62. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating the consensus estimate of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The company had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same quarter last year, the business earned $1.83 earnings per share. CVS Health’s 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. Analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have issued reports on CVS. UBS Group raised shares of CVS Health from a “neutral” rating to a “buy” rating and raised their target price for the stock from $67.00 to $79.00 in a report on Monday, August 18th. Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $78.00 target price on shares of CVS Health in a report on Tuesday, August 26th. Cowen reissued a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Finally, Baird R W raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $78.25.

Insider Buying and Selling

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the company’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 sale, the director directly owned 22,156 shares in the company, valued at $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.22% of the stock is currently 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.