CVS Health Corporation $CVS Shares Newly Bought by Ibex Wealth Advisors

Ibex Wealth Advisors purchased a new stake in CVS Health Corporation (NYSE:CVS) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 16,883 shares of the pharmacy operator’s stock, valued at approximately $1,447,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC increased its stake in CVS Health by 41.8% during the second quarter. Elevation Wealth Partners LLC now owns 356 shares of the pharmacy operator’s stock worth $37,000 after acquiring an additional 105 shares during the last quarter. HBW Advisory Services LLC lifted its stake in shares of CVS Health by 3.5% in the 3rd quarter. HBW Advisory Services LLC now owns 3,408 shares of the pharmacy operator’s stock valued at $292,000 after purchasing an additional 115 shares during the last quarter. Apella Capital LLC lifted its stake in shares of CVS Health by 1.7% in the 2nd quarter. Apella Capital LLC now owns 6,940 shares of the pharmacy operator’s stock valued at $724,000 after purchasing an additional 117 shares during the last quarter. Wellington Altus USA Inc. boosted its holdings in shares of CVS Health by 13.3% in the 2nd quarter. Wellington Altus USA Inc. now owns 1,025 shares of the pharmacy operator’s stock worth $106,000 after purchasing an additional 120 shares during the period. Finally, Childress Capital Advisors LLC boosted its holdings in shares of CVS Health by 3.9% in the 3rd quarter. Childress Capital Advisors LLC now owns 3,497 shares of the pharmacy operator’s stock worth $300,000 after purchasing an additional 131 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Insider Activity

In other CVS Health news, EVP Prem Shah acquired 23,855 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The stock was bought at an average price of $83.89 per share, for a total transaction of $2,001,195.95. Following the acquisition, the executive vice president directly owned 88,516 shares in the company, valued at $7,425,607.24. The trade was a 36.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CVS shares. JPMorgan Chase & Co. boosted their target price on CVS Health from $111.00 to $118.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Jefferies Financial Group restated a “buy” rating and issued a $103.00 price target on shares of CVS Health in a research report on Wednesday, November 4th. Weiss Ratings raised shares of CVS Health from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, November 9th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of CVS Health in a research note on Friday. Finally, UBS Group cut their price objective on shares of CVS Health from $118.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, November 5th. Twenty-three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.54.

More CVS Health News

Investors following CVS have been watching these news items:

• Positive Sentiment: A separation could give the pharmacy business and CVS’s other operations sharper strategic focus and improve capital allocation. Some analysts see potential for the pieces to be worth more separately, though the plan is not expected until 2028. CVS Breakup Won’t Satisfy Washington. It Could Still Work for Wall Street.
• Neutral Sentiment: Wells Fargo lowered its price target to $112 from $123 but kept an Overweight rating, signaling a reduced valuation outlook while still seeing potential upside. Wells Fargo analyst rating
• Negative Sentiment: The separation may not ease political criticism: lawmakers and critics argue that retaining CVS’s other lucrative businesses, including its pharmacy-benefit operations, would leave key drug-pricing concerns unresolved. CVS is planning a huge corporate breakup after drug price criticism

CVS Health Trading Down 0.5%

NYSE CVS traded down $0.42 during trading on Friday, hitting $89.37. The stock had a trading volume of 8,018,706 shares, compared to its average volume of 10,976,287. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.66 and a current ratio of 0.85. The stock has a market capitalization of $114.34 billion, a price-to-earnings ratio of 10.40, a P/E/G ratio of 0.78 and a beta of 0.58. CVS Health Corporation has a one year low of $69.51 and a one year high of $110.68. The stock has a 50 day simple moving average of $89.65 and a 200 day simple moving average of $89.09.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, November 4th. The pharmacy operator reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.44. The business had revenue of $108.40 billion during the quarter, compared to analyst estimates of $104.72 billion. CVS Health had a return on equity of 13.65% and a net margin of 2.62%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.60 earnings per share. Sell-side analysts predict that CVS Health Corporation will post 8.26 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Thursday, October 22nd were paid a dividend of $0.6650 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Thursday, October 22nd. CVS Health’s dividend payout ratio (DPR) is currently 30.97%.

About CVS Health

CVS Health is a U.S.-based health care company that operates retail pharmacies, provides pharmacy benefit management services, and offers health insurance and other health services. Its businesses include CVS Pharmacy, pharmacy benefit manager CVS Caremark, and Aetna, its health benefits division. The company also provides care through MinuteClinic walk-in clinics and health care businesses including Oak Street Health and Signify Health. Its services span prescription fulfillment, pharmacy benefit management, health insurance, primary care, and in-home and community-based care.