Inlight Wealth Management LLC Sells 2,269 Shares of CVS Health Corporation $CVS

Inlight Wealth Management LLC lowered its position in shares of CVS Health Corporation (NYSE:CVS) by 5.7% during the second quarter, Holdings Channel.com reports. The firm owned 37,387 shares of the pharmacy operator’s stock after selling 2,269 shares during the quarter. CVS Health accounts for 0.7% of Inlight Wealth Management LLC’s portfolio, making the stock its 26th biggest holding. Inlight Wealth Management LLC’s holdings in CVS Health were worth $2,579,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CVS. Goldman Sachs Group Inc. grew its stake in shares of CVS Health by 87.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator’s stock valued at $672,598,000 after acquiring an additional 4,632,530 shares in the last quarter. Dodge & Cox increased its holdings in shares of CVS Health by 4.8% during the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock worth $4,976,856,000 after purchasing an additional 3,353,223 shares during the period. Nuveen LLC acquired a new stake in shares of CVS Health in the first quarter valued at approximately $204,421,000. Assenagon Asset Management S.A. boosted its stake in shares of CVS Health by 310.8% in the first quarter. Assenagon Asset Management S.A. now owns 3,523,824 shares of the pharmacy operator’s stock valued at $238,739,000 after buying an additional 2,666,029 shares during the period. Finally, Invesco Ltd. increased its stake in CVS Health by 13.2% during the 1st quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock worth $1,383,039,000 after acquiring an additional 2,375,764 shares during the period. 80.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Anne A. Finucane sold 7,500 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the transaction, the director directly owned 22,156 shares of the company’s stock, valued at $1,573,519.12. This trade represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.22% of the stock is owned by insiders.

CVS Health Trading Up 0.1%

NYSE CVS opened at $77.51 on Monday. The company has a market cap of $98.31 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 0.85 and a beta of 0.60. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $79.20. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The business’s fifty day moving average is $70.71 and its 200 day moving average is $67.32.

CVS Health (NYSE:CVS) last posted its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, beating the consensus estimate of $1.46 by $0.35. The firm had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the company earned $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, sell-side analysts expect that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be paid a $0.665 dividend. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.4%. CVS Health’s payout ratio is currently 74.30%.

Analyst Upgrades and Downgrades

CVS has been the topic of a number of recent analyst reports. Baird R W upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. Morgan Stanley boosted their target price on shares of CVS Health from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $78.00 price target on shares of CVS Health in a research report on Tuesday, August 26th. Sanford C. Bernstein boosted their price objective on shares of CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a research report on Friday, September 5th. Finally, Zacks Research downgraded CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $78.25.

CVS Health Company Profile

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.