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Investment Advisory Group LLC Sells 200 Shares of CVS Health Co. (NYSE:CVS)

Financial News Live · Sep 25, 2022 12:11

Investment Advisory Group LLC lowered its position in CVS Health Co. (NYSE:CVS – Get Rating) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,601 shares of the pharmacy operator's stock after selling 200 shares during the quarter. Investment Advisory Group LLC's holdings in CVS Health were worth $241,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Veriti Management LLC grew its stake in CVS Health by 5.2% in the second quarter. Veriti Management LLC now owns 30,262 shares of the pharmacy operator's stock worth $2,804,000 after purchasing an additional 1,492 shares in the last quarter. Sabal Trust CO boosted its position in CVS Health by 187.9% during the 2nd quarter. Sabal Trust CO now owns 6,244 shares of the pharmacy operator's stock valued at $579,000 after acquiring an additional 4,075 shares in the last quarter. Abacus Planning Group Inc. boosted its position in CVS Health by 5.1% during the 2nd quarter. Abacus Planning Group Inc. now owns 12,566 shares of the pharmacy operator's stock valued at $1,164,000 after acquiring an additional 608 shares in the last quarter. Alhambra Investment Partners LLC boosted its position in CVS Health by 2.9% during the 2nd quarter. Alhambra Investment Partners LLC now owns 15,689 shares of the pharmacy operator's stock valued at $1,454,000 after acquiring an additional 449 shares in the last quarter. Finally, Advisory Alpha LLC boosted its position in CVS Health by 49.9% during the 2nd quarter. Advisory Alpha LLC now owns 3,860 shares of the pharmacy operator's stock valued at $358,000 after acquiring an additional 1,285 shares in the last quarter. Institutional investors own 77.64% of the company's stock.

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CVS Health Stock Performance

Shares of CVS stock opened at $98.35 on Friday. The business has a fifty day moving average of $100.20 and a 200 day moving average of $99.22. The firm has a market capitalization of $129.12 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.50 and a beta of 0.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.91 and a quick ratio of 0.65. CVS Health Co. has a 1 year low of $81.78 and a 1 year high of $111.25.

CVS Health (NYSE:CVS – Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The pharmacy operator reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.24. The company had revenue of $80.64 billion for the quarter, compared to the consensus estimate of $76.38 billion. CVS Health had a return on equity of 15.19% and a net margin of 2.65%. The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $2.42 EPS. As a group, research analysts expect that CVS Health Co. will post 8.53 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 21st will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, October 20th. CVS Health's dividend payout ratio is currently 35.77%.

Insiders Place Their Bets

In other CVS Health news, EVP Alan Lotvin sold 22,541 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $104.00, for a total transaction of $2,344,264.00. Following the sale, the executive vice president now directly owns 109,183 shares of the company's stock, valued at approximately $11,355,032. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Thomas M. Moriarty sold 138,654 shares of the firm's stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $95.00, for a total transaction of $13,172,130.00. Following the sale, the executive vice president now directly owns 626,273 shares in the company, valued at approximately $59,495,935. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alan Lotvin sold 22,541 shares of CVS Health stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $104.00, for a total value of $2,344,264.00. Following the completion of the sale, the executive vice president now owns 109,183 shares in the company, valued at $11,355,032. The disclosure for this sale can be found here. 0.69% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CVS shares. UBS Group increased their target price on CVS Health from $118.00 to $127.00 and gave the company a "buy" rating in a research report on Thursday, August 4th. Deutsche Bank Aktiengesellschaft increased their target price on CVS Health from $113.00 to $120.00 in a research report on Thursday, August 4th. Loop Capital initiated coverage on CVS Health in a research report on Thursday, June 16th. They set a "buy" rating and a $120.00 target price on the stock. Mizuho increased their price objective on CVS Health from $115.00 to $120.00 and gave the company a "buy" rating in a report on Monday, August 15th. Finally, Evercore ISI increased their price objective on CVS Health from $120.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday, September 7th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $117.59.

CVS Health Company Profile

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CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.