CVS Health Corporation $CVS Shares Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC grew its stake in shares of CVS Health Corporation (NYSE:CVS) by 18.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 93,555 shares of the pharmacy operator’s stock after acquiring an additional 14,406 shares during the quarter. Kestra Advisory Services LLC’s holdings in CVS Health were worth $8,017,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Elevation Wealth Partners LLC increased its position in shares of CVS Health by 41.8% in 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 in the last quarter. HBW Advisory Services LLC grew its position in CVS Health by 3.5% during the 3rd quarter. HBW Advisory Services LLC now owns 3,408 shares of the pharmacy operator’s stock worth $292,000 after purchasing an additional 115 shares in the last quarter. Apella Capital LLC raised its stake in CVS Health by 1.7% during 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 period. Wellington Altus USA Inc. lifted its holdings in shares of CVS Health by 13.3% in the second quarter. Wellington Altus USA Inc. now owns 1,025 shares of the pharmacy operator’s stock valued at $106,000 after purchasing an additional 120 shares in the last quarter. Finally, Childress Capital Advisors LLC boosted its position in shares of CVS Health by 3.9% in the third quarter. Childress Capital Advisors LLC now owns 3,497 shares of the pharmacy operator’s stock worth $300,000 after buying an additional 131 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVS. Argus increased their price objective on CVS Health from $104.00 to $114.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Jefferies Financial Group reiterated a “buy” rating and issued a $103.00 target price on shares of CVS Health in a research report on Wednesday, November 4th. Truist Financial upped their price objective on shares of CVS Health from $108.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. boosted their target price on shares of CVS Health from $111.00 to $118.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Finally, Piper Sandler set a $112.00 price objective on CVS Health in a research note on Wednesday, September 9th. Twenty-three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $108.25.

Insider Activity

In related news, EVP Prem Shah acquired 23,855 shares of the business’s stock in a transaction on Friday, November 6th. The stock was bought at an average cost of $83.89 per share, with a total value of $2,001,195.95. Following the completion of the acquisition, the executive vice president 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 SEC, which is available through this hyperlink. Insiders own 0.85% of the company’s stock.

CVS Health Price Performance

NYSE:CVS opened at $89.03 on Wednesday. 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 company has a 50-day moving average of $90.12 and a 200-day moving average of $88.94. CVS Health Corporation has a 52 week low of $69.51 and a 52 week high of $110.68. The company has a market capitalization of $113.92 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 0.74 and a beta of 0.58.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 4th. The pharmacy operator reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.44. The firm had revenue of $108.40 billion during the quarter, compared to analyst estimates of $104.72 billion. CVS Health had a net margin of 2.62% and a return on equity of 13.65%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.60 earnings per share. As a group, equities research analysts anticipate that CVS Health Corporation will post 8.25 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Thursday, October 22nd were given a $0.6650 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Thursday, October 22nd. CVS Health’s dividend payout ratio is 30.97%.

Trending Headlines about CVS Health

Here are the key news stories impacting CVS Health this week:

• Positive Sentiment: Zacks upgraded CVS to Rank #2 (Buy), citing improving optimism about the company’s earnings prospects. Article: All You Need to Know About CVS Health Rating Upgrade to Buy
• Positive Sentiment: Incoming CVS Pharmacy CEO Prem Shah reportedly purchased about $2 million of CVS shares, a notable show of confidence from an executive expected to lead one of the businesses after the separation. Article: CVS Health’s Future Pharmacy CEO Just Bought $2 Million of Stock
• Neutral Sentiment: CVS has announced plans to split into two companies by 2028. The restructuring could let each business focus more clearly on its operations, but the companies’ structure and the benefits to shareholders remain important unanswered questions. Article: CVS Health Announces Plan to Split Into Two Companies
• Negative Sentiment: Analyst estimates have become more cautious as the separation plan is factored in. One fair-value estimate was trimmed from $116.28 to $113.76, with execution risk and valuation concerns weighing on the outlook. Article: CVS Health Stock Fair Value Edges Lower on Separation Risk and Analyst Caution

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.