NewSquare Capital LLC Acquires 4,854 Shares of CVS Health Corporation $CVS

NewSquare Capital LLC boosted its holdings in CVS Health Corporation (NYSE:CVS) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 111,518 shares of the pharmacy operator’s stock after purchasing an additional 4,854 shares during the period. NewSquare Capital LLC’s holdings in CVS Health were worth $7,595,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Avion Wealth lifted its stake in CVS Health by 99.0% in the second quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock worth $26,000 after purchasing an additional 189 shares during the last quarter. Harbor Asset Planning Inc. bought a new stake in CVS Health in the second quarter worth $30,000. Bell Investment Advisors Inc lifted its stake in CVS Health by 119.8% in the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock worth $31,000 after purchasing an additional 248 shares during the last quarter. Roxbury Financial LLC lifted its stake in CVS Health by 78.3% in the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 202 shares during the last quarter. Finally, ORG Partners LLC increased its position in shares of CVS Health by 418.9% in the second quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock valued at $32,000 after acquiring an additional 377 shares during the period. 80.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Leerink Partners boosted their price objective on shares of CVS Health from $86.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Raymond James Financial boosted their price objective on shares of CVS Health from $75.00 to $90.00 in a research report on Friday. Bernstein Bank decreased their price objective on shares of CVS Health from $78.00 to $72.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 16th. Morgan Stanley boosted their price objective on shares of CVS Health from $82.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Finally, Wall Street Zen cut shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Saturday. 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. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and an average price target of $88.82.

Insiders Place Their Bets

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the company’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 sale, the director owned 22,156 shares in the company, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.22% of the company’s stock.

CVS Health Price Performance

Shares of CVS opened at $78.48 on Tuesday. The stock has a market cap of $99.62 billion, a PE ratio of 206.52, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.62 and a current ratio of 0.83. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $85.15. The firm’s 50-day simple moving average is $76.64 and its two-hundred day simple moving average is $69.12.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.24. The business had revenue of $102.87 billion for the quarter, compared to analysts’ expectations 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 was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 earnings per share. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. Analysts anticipate that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Thursday, October 23rd. CVS Health’s dividend payout ratio is 700.00%.

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.