CVS Health Corporation $CVS Stake Raised by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC grew its holdings in shares of CVS Health Corporation (NYSE:CVS) by 15.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 14,735 shares of the pharmacy operator’s stock after purchasing an additional 1,994 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in CVS Health were worth $1,016,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. TD Asset Management Inc raised its stake in CVS Health by 14.6% during the 2nd quarter. TD Asset Management Inc now owns 1,220,961 shares of the pharmacy operator’s stock valued at $84,222,000 after acquiring an additional 155,993 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in shares of CVS Health by 1.8% during the second quarter. Wilmington Savings Fund Society FSB now owns 14,999 shares of the pharmacy operator’s stock valued at $1,035,000 after purchasing an additional 268 shares in the last quarter. Morningstar Investment Management LLC bought a new stake in shares of CVS Health during the second quarter valued at about $449,000. Revolve Wealth Partners LLC bought a new stake in shares of CVS Health during the second quarter valued at about $203,000. Finally, Cornerstone Wealth Group LLC bought a new stake in shares of CVS Health during the second quarter valued at about $266,000. Institutional investors own 80.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on CVS shares. Barclays boosted their price target on shares of CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. Cowen reissued a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Sanford C. Bernstein boosted 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. Wall Street Zen raised CVS Health from a “hold” rating to a “buy” rating in a research note on Sunday, September 21st. Finally, Wolfe Research boosted their price target on shares of CVS Health from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $81.05.

Insider Activity at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the business’s stock in a transaction 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 sale, the director directly owned 22,156 shares of the company’s stock, valued at $1,573,519.12. The trade was a 25.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.22% of the company’s stock.

CVS Health Stock Up 1.4%

Shares of CVS Health stock opened at $80.75 on Thursday. The stock’s fifty day moving average is $73.30 and its 200-day moving average is $67.92. The firm has a market capitalization of $102.42 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 0.88 and a beta of 0.60. 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 Corporation has a 12-month low of $43.56 and a 12-month high of $81.93.

CVS Health (NYSE:CVS) last announced its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.35. The company had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.CVS Health’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.83 earnings per share. 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 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be given 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 74.30%.

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.