Glass Jacobson Investment Advisors llc Decreases Stake in CVS Health Corporation $CVS

Glass Jacobson Investment Advisors llc lessened its position in shares of CVS Health Corporation (NYSE:CVS) by 22.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 836 shares of the pharmacy operator’s stock after selling 237 shares during the quarter. Glass Jacobson Investment Advisors llc’s holdings in CVS Health were worth $58,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its position in CVS Health by 198.5% during the first quarter. GAMMA Investing LLC now owns 18,669 shares of the pharmacy operator’s stock valued at $1,265,000 after purchasing an additional 12,415 shares during the period. Golden State Wealth Management LLC increased its position in CVS Health by 5,096.1% during the first quarter. Golden State Wealth Management LLC now owns 3,949 shares of the pharmacy operator’s stock valued at $268,000 after acquiring an additional 3,873 shares during the last quarter. Pure Financial Advisors LLC purchased a new stake in shares of CVS Health in the first quarter valued at $204,000. Sequoia Financial Advisors LLC lifted its holdings in shares of CVS Health by 9.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 44,905 shares of the pharmacy operator’s stock worth $3,042,000 after acquiring an additional 3,748 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of CVS Health by 33.8% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 290,990 shares of the pharmacy operator’s stock worth $19,715,000 after purchasing an additional 73,583 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

CVS opened at $81.95 on Friday. The company has a market capitalization of $103.94 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 0.90 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 $83.52. The business’s fifty day simple moving average is $75.57 and its 200-day simple moving average is $68.68.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $94.87 billion. During the same period in the prior year, the firm earned $1.83 earnings per share. The firm’s revenue for the quarter 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. On average, equities research analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

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

Wall Street Analyst Weigh In

CVS has been the subject of several recent analyst reports. Wells Fargo & Company boosted their target price on CVS Health from $84.00 to $103.00 and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Zacks Research cut CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. The Goldman Sachs Group initiated coverage on CVS Health in a research note on Tuesday, October 14th. They issued a “buy” rating and a $91.00 target price on the stock. Truist Financial set a $92.00 target price on CVS Health in a research report on Tuesday, October 14th. Finally, Baird R W upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.38.

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 on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.22% of the stock is owned by company insiders.

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.