Sequoia Financial Advisors LLC Has $3.29 Million Stock Position in CVS Health Corporation $CVS

Sequoia Financial Advisors LLC boosted its position in shares of CVS Health Corporation (NYSE:CVS) by 6.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,730 shares of the pharmacy operator’s stock after purchasing an additional 2,825 shares during the period. Sequoia Financial Advisors LLC’s holdings in CVS Health were worth $3,292,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CVS. Bell Investment Advisors Inc boosted its position in CVS Health by 119.8% during the first 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 during the last quarter. Roxbury Financial LLC lifted its position in shares of CVS Health by 78.3% in the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 202 shares during the last quarter. ORG Partners LLC lifted its position in shares of CVS Health by 418.9% in the second quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 377 shares during the last quarter. Saudi Central Bank acquired a new stake in shares of CVS Health in the first quarter worth about $34,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of CVS Health in the second quarter worth about $35,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Wall Street Analysts Forecast Growth

CVS has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on CVS Health from $82.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday. 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. Sanford C. Bernstein lifted their price objective on CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a research note on Friday, September 5th. UBS Group upgraded CVS Health from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $67.00 to $79.00 in a research note on Monday, August 18th. Finally, Robert W. Baird upgraded CVS Health from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $71.00 to $82.00 in a research note on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.05.

CVS Health Trading Up 1.6%

Shares of CVS opened at $79.67 on Wednesday. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $79.94. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $101.05 billion, a price-to-earnings ratio of 22.25, a P/E/G ratio of 0.87 and a beta of 0.60. The stock’s 50-day moving average price is $72.95 and its 200 day moving average price is $67.83.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same period in the previous year, the company posted $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. As a group, research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed 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. This represents a $2.66 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Thursday, October 23rd. CVS Health’s dividend payout ratio is currently 74.30%.

Insider Buying and Selling at CVS Health

In other 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 sale, the director directly owned 22,156 shares in the company, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.22% of the company’s stock.

CVS Health Company 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.