Kingswood Wealth Advisors LLC Reduces Stock Position in CVS Health Corporation $CVS

Kingswood Wealth Advisors LLC lowered its holdings in shares of CVS Health Corporation (NYSE:CVS) by 67.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,606 shares of the pharmacy operator’s stock after selling 31,730 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in CVS Health were worth $1,077,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Bell Investment Advisors Inc raised its position in CVS Health by 119.8% during 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 position in CVS Health by 78.3% during 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. ORG Partners LLC raised its position in CVS Health by 418.9% during the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 377 shares in the last quarter. Saudi Central Bank bought a new stake in CVS Health during the 1st quarter valued at $34,000. Finally, Livelsberger Financial Advisory bought a new stake in CVS Health during the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Activity at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the sale, the director 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is owned by insiders.

CVS Health Stock Down 0.2%

CVS Health stock opened at $76.94 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The business’s 50-day simple moving average is $71.68 and its two-hundred day simple moving average is $67.52. The company has a market cap of $97.59 billion, a PE ratio of 21.49, a PEG ratio of 0.85 and a beta of 0.60. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $79.20.

CVS Health (NYSE:CVS) last posted 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 for the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business 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. 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 dividend payout ratio is presently 74.30%.

Analyst Ratings Changes

CVS has been the subject of several recent research reports. Bernstein Bank reduced their price target on CVS Health from $78.00 to $72.00 and set a “market perform” rating for the company in a research report on Wednesday, July 16th. Barclays boosted their price target on CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. Wells Fargo & Company boosted their price target on CVS Health from $84.00 to $103.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wolfe Research boosted 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. Finally, Sanford C. Bernstein boosted their price target on CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a research report on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus target price of $79.20.

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.