1ST Source Bank Purchases Shares of 12,061 CVS Health Corporation $CVS

Key Points

• 1ST Source Bank bought 12,061 CVS Health shares during the second quarter, valued at approximately $1.25 million. Institutional investors collectively own 80.66% of CVS.
• Analysts remain broadly optimistic, with 22 Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and a $106.75 price target.
• CVS reported stronger-than-expected quarterly results, earning $2.58 per share versus the $1.87 estimate and generating $106.1 billion in revenue. The company also maintains a quarterly dividend of $0.665, or $2.66 annually.

1ST Source Bank acquired a new position in shares of CVS Health Corporation (NYSE:CVS - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 12,061 shares of the pharmacy operator's stock, valued at approximately $1,248,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in CVS Health by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 120,709,530 shares of the pharmacy operator's stock valued at $9,579,508,000 after purchasing an additional 1,824,424 shares during the period. State Street Corp increased its position in shares of CVS Health by 2.1% during the 4th quarter. State Street Corp now owns 60,183,743 shares of the pharmacy operator's stock valued at $4,776,182,000 after purchasing an additional 1,245,457 shares during the last quarter. Capital International Investors raised its holdings in CVS Health by 3.4% during the 4th quarter. Capital International Investors now owns 27,592,356 shares of the pharmacy operator's stock valued at $2,189,793,000 after buying an additional 900,153 shares during the period. Norges Bank bought a new stake in CVS Health in the fourth quarter worth $1,666,265,000. Finally, Morgan Stanley boosted its stake in CVS Health by 6.3% during the fourth quarter. Morgan Stanley now owns 20,373,774 shares of the pharmacy operator's stock worth $1,616,863,000 after buying an additional 1,211,631 shares during the period. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CVS shares. Cantor Fitzgerald increased their target price on shares of CVS Health from $100.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. Weiss Ratings raised shares of CVS Health from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of CVS Health from $88.00 to $92.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Wells Fargo & Company raised their price objective on shares of CVS Health from $103.00 to $123.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. Finally, Barclays boosted their target price on CVS Health from $106.00 to $108.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Twenty-two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $106.75.

Insiders Place Their Bets

In other CVS Health news, Director Larry Robbins sold 370,462 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $93.45, for a total transaction of $34,619,673.90. Following the transaction, the director directly owned 4,824,799 shares in the company, valued at $450,877,466.55. This represents a 7.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 3,372,000 shares of company stock valued at $317,473,598 over the last ninety days. 0.85% of the stock is owned by corporate insiders.

CVS Health Trading Down 0.1%

CVS stock opened at $97.09 on Monday. CVS Health Corporation has a 12 month low of $67.42 and a 12 month high of $110.68. The firm's 50-day moving average is $102.52 and its 200 day moving average is $88.26. The company has a market capitalization of $124.18 billion, a PE ratio of 25.69, a P/E/G ratio of 0.93 and a beta of 0.61. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.87 and a quick ratio of 0.66.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.71. The company had revenue of $106.10 billion during the quarter, compared to analysts' expectations of $100.03 billion. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.81 EPS. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. On average, research analysts anticipate that CVS Health Corporation will post 8.02 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Thursday, July 23rd. CVS Health's payout ratio is presently 70.37%.

About CVS Health

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.

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