CVS Health Corporation $CVS Shares Purchased by Davis Selected Advisers

Davis Selected Advisers raised its stake in shares of CVS Health Corporation (NYSE:CVS) by 0.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 11,586,790 shares of the pharmacy operator’s stock after buying an additional 37,733 shares during the period. CVS Health accounts for about 4.3% of Davis Selected Advisers’ portfolio, making the stock its 7th largest position. Davis Selected Advisers’ holdings in CVS Health were worth $799,257,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Avion Wealth increased its position in CVS Health by 99.0% during the 2nd quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock worth $26,000 after purchasing an additional 189 shares in the last quarter. Harbor Asset Planning Inc. acquired a new stake in shares of CVS Health during the 2nd quarter worth about $30,000. Bell Investment Advisors Inc grew its holdings in shares of CVS Health by 119.8% during the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock worth $31,000 after buying an additional 248 shares in the last quarter. Roxbury Financial LLC raised its position in shares of CVS Health by 78.3% in the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 202 shares during the last quarter. Finally, ORG Partners LLC lifted its stake in shares of CVS Health by 418.9% during the second quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 377 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Barclays boosted their price target on CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, September 4th. Sanford C. Bernstein upped their target price on CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a research note on Friday, September 5th. 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 price target on the stock. Robert W. Baird raised shares of CVS Health from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $71.00 to $82.00 in a research note on Thursday, August 14th. Finally, Mizuho increased their price objective on shares of CVS Health from $76.00 to $88.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.41.

Insiders Place Their Bets

In other news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction that occurred 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 sale, the director owned 22,156 shares in the company, valued at $1,573,519.12. This trade represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.22% of the stock is currently owned by corporate insiders.

CVS Health Stock Performance

NYSE CVS opened at $79.32 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.62. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $85.15. The firm has a market capitalization of $100.69 billion, a P/E ratio of 208.74, a P/E/G ratio of 0.87 and a beta of 0.60. The business’s 50-day simple moving average is $77.61 and its 200-day simple moving average is $69.81.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 EPS for the quarter, beating the consensus estimate of $1.36 by $0.24. The firm had revenue of $102.87 billion for 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%. CVS Health’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.09 earnings per share. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. Equities analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 23rd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, October 23rd. This represents a $2.66 annualized dividend and a yield of 3.4%. CVS Health’s payout ratio 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.