Kingsview Wealth Management LLC Sells 2,209 Shares of CVS Health Corporation $CVS

Kingsview Wealth Management LLC cut its position in shares of CVS Health Corporation (NYSE:CVS) by 8.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,092 shares of the pharmacy operator’s stock after selling 2,209 shares during the quarter. Kingsview Wealth Management LLC’s holdings in CVS Health were worth $1,731,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CVS. Vanguard Group Inc. grew its position in shares of CVS Health by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator’s stock worth $8,017,223,000 after buying an additional 969,027 shares during the period. Dodge & Cox increased its stake in shares of CVS Health by 4.8% during the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock valued at $4,976,856,000 after purchasing an additional 3,353,223 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of CVS Health by 2.4% during the second quarter. Geode Capital Management LLC now owns 28,635,233 shares of the pharmacy operator’s stock valued at $1,966,083,000 after purchasing an additional 675,824 shares in the last quarter. Invesco Ltd. boosted its position in shares of CVS Health by 13.2% in the 1st quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock worth $1,383,039,000 after purchasing an additional 2,375,764 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of CVS Health by 14.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator’s stock worth $1,037,205,000 after buying an additional 1,942,886 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CVS. The Goldman Sachs Group began coverage on CVS Health in a research note on Tuesday, October 14th. They set a “buy” rating and a $91.00 price objective for the company. Sanford C. Bernstein lifted their price target on CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a research report on Friday, September 5th. Wall Street Zen downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Barclays raised their price objective on shares of CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. Finally, Mizuho upped their target price on shares of CVS Health from $76.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.41.

CVS Health Price Performance

CVS opened at $76.52 on Thursday. The company’s 50-day simple moving average is $78.03 and its two-hundred day simple moving average is $70.14. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.62 and a current ratio of 0.83. The stock has a market capitalization of $97.13 billion, a P/E ratio of 201.36, a P/E/G ratio of 0.87 and a beta of 0.60. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $85.15.

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

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is 700.00%.

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.