IFG Advisory LLC Sells 4,071 Shares of CVS Health Corporation $CVS

IFG Advisory LLC reduced its stake in CVS Health Corporation (NYSE:CVS) by 22.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,985 shares of the pharmacy operator’s stock after selling 4,071 shares during the quarter. IFG Advisory LLC’s holdings in CVS Health were worth $965,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CVS. DAVENPORT & Co LLC boosted its position in shares of CVS Health by 3.5% in the 1st quarter. DAVENPORT & Co LLC now owns 44,120 shares of the pharmacy operator’s stock worth $2,987,000 after purchasing an additional 1,501 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of CVS Health by 36.4% in the 1st quarter. First Horizon Advisors Inc. now owns 9,415 shares of the pharmacy operator’s stock worth $638,000 after purchasing an additional 2,513 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in CVS Health by 248.0% in the 1st quarter. Teacher Retirement System of Texas now owns 282,232 shares of the pharmacy operator’s stock worth $19,121,000 after acquiring an additional 201,120 shares during the last quarter. Resonant Capital Advisors LLC purchased a new position in CVS Health in the 1st quarter worth approximately $207,000. Finally, Principal Financial Group Inc. raised its holdings in CVS Health by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,452,700 shares of the pharmacy operator’s stock worth $98,420,000 after acquiring an additional 29,278 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

Insider Activity

In other 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 completion of the sale, the director 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 legal filing with the SEC, which is available at this link. 1.22% of the stock is currently owned by insiders.

CVS Health Price Performance

Shares of CVS opened at $78.13 on Friday. The firm has a market cap of $99.18 billion, a PE ratio of 205.61, a P/E/G ratio of 0.87 and a beta of 0.60. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.83. The firm has a fifty day simple moving average of $76.49 and a two-hundred day simple moving average of $69.04. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $85.15.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.24. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The firm had revenue of $102.87 billion during the quarter, compared to the consensus estimate of $98.85 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. On average, equities analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.4%. CVS Health’s payout ratio is presently 700.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CVS. Barclays boosted their price objective on shares of CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. Jefferies Financial Group boosted their price objective on shares of CVS Health from $80.00 to $92.00 in a report on Wednesday, October 15th. Cantor Fitzgerald boosted their price objective on shares of CVS Health from $78.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday. Leerink Partners boosted their price objective on shares of CVS Health from $86.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, Bernstein Bank decreased their price objective on shares of CVS Health from $78.00 to $72.00 and set a “market perform” rating for the company in a report on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $87.64.

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.