Financial Partners Group LLC Reduces Position in CVS Health Co. (NYSE:CVS) (2024)

Financial Partners Group LLC decreased its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 8.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,587 shares of the pharmacy operator's stock after selling 9,929 shares during the period. CVS Health accounts for about 2.5% of Financial Partners Group LLC's holdings, making the stock its 14th biggest position. Financial Partners Group LLC's holdings in CVS Health were worth $6,354,000 at the end of the most recent quarter.

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A number of other institutional investors also recently modified their holdings of CVS. USA Financial Formulas grew its holdings in CVS Health by 573.2% during the 4th quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator's stock valued at $30,000 after buying an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in CVS Health during the fourth quarter valued at approximately $32,000. Creekmur Asset Management LLC bought a new stake in CVS Health during the 4th quarter worth approximately $34,000. Steph & Co. lifted its stake in CVS Health by 192.0% in the 1st quarter. Steph & Co. now owns 438 shares of the pharmacy operator's stock worth $35,000 after purchasing an additional 288 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of CVS Health during the 4th quarter valued at $36,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CVS shares. The Goldman Sachs Group dropped their price objective on CVS Health from $85.00 to $74.00 and set a "buy" rating for the company in a research note on Thursday, May 2nd. Robert W. Baird began coverage on shares of CVS Health in a research report on Thursday, May 30th. They issued a "neutral" rating and a $61.00 price objective on the stock. UBS Group lowered shares of CVS Health from a "buy" rating to a "neutral" rating and dropped their target price for the company from $85.00 to $60.00 in a research report on Thursday, May 2nd. SVB Leerink reissued a "market perform" rating and issued a $60.00 price target (down previously from $87.00) on shares of CVS Health in a report on Wednesday, May 1st. Finally, Cantor Fitzgerald upped their target price on shares of CVS Health from $58.00 to $62.00 and gave the stock a "neutral" rating in a research report on Thursday. Twelve investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $73.24.

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CVS Health Trading Down 2.3 %

CVS traded down $1.30 during trading on Monday, hitting $55.81. 8,389,272 shares of the stock traded hands, compared to its average volume of 11,525,688. The firm has a 50-day moving average of $59.36 and a 200 day moving average of $66.02. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25. The firm has a market capitalization of $70.06 billion, a P/E ratio of 9.81, a price-to-earnings-growth ratio of 0.57 and a beta of 0.52. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61.

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CVS Health (NYSE:CVS - Get Free Report) last posted its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.10. CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The company had revenue of $91.23 billion for the quarter, compared to analysts' expectations of $91.41 billion. During the same period last year, the firm earned $2.21 earnings per share. CVS Health's quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts anticipate that CVS Health Co. will post 7 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date was Monday, July 22nd. CVS Health's payout ratio is currently 46.75%.

CVS Health Profile

(Free Report)

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.

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