Chicago Partners Investment Group LLC Increases Position in CVS Health Corporation $CVS

Chicago Partners Investment Group LLC lifted its position in CVS Health Corporation (NYSE:CVS) by 15.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,587 shares of the pharmacy operator’s stock after purchasing an additional 2,176 shares during the period. Chicago Partners Investment Group LLC’s holdings in CVS Health were worth $1,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Independence Asset Advisors LLC purchased a new stake in shares of CVS Health in the second quarter worth $2,378,000. TrueMark Investments LLC purchased a new stake in shares of CVS Health in the second quarter worth $5,040,000. Koshinski Asset Management Inc. grew its stake in CVS Health by 40.6% during the second quarter. Koshinski Asset Management Inc. now owns 6,933 shares of the pharmacy operator’s stock valued at $478,000 after acquiring an additional 2,003 shares in the last quarter. Ariston Services Group grew its stake in CVS Health by 13.1% during the second quarter. Ariston Services Group now owns 4,546 shares of the pharmacy operator’s stock valued at $314,000 after acquiring an additional 528 shares in the last quarter. Finally, Kanawha Capital Management LLC purchased a new position in CVS Health during the second quarter valued at $216,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Anne A. Finucane sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the sale, the director owned 22,156 shares in the company, valued at approximately $1,573,519.12. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.22% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CVS. Wall Street Zen raised shares of CVS Health from a “hold” rating to a “buy” rating in a research note on Sunday, September 21st. Cowen reaffirmed a “buy” rating on shares of CVS Health in a research note on Monday, August 4th. Wells Fargo & Company raised their target price on shares of CVS Health from $84.00 to $103.00 and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Morgan Stanley raised their target price on shares of CVS Health from $82.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Finally, Sanford C. Bernstein raised their target price on shares of CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a research note on Friday, September 5th. Two equities research 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.57.

CVS Health Price Performance

CVS Health stock opened at $82.47 on Tuesday. The firm has a 50-day moving average price of $74.35 and a 200-day moving average price of $68.25. The firm has a market capitalization of $104.59 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 0.91 and a beta of 0.60. 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 Corporation has a 12-month low of $43.56 and a 12-month high of $82.88.

CVS Health (NYSE:CVS) last released its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.35. The firm had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business earned $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is 74.30%.

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.