Aberdeen Group plc Has $77.29 Million Holdings in CVS Health Corporation $CVS

Key Points

• Aberdeen Group plc increased its stake in CVS Health Corporation by 52.4% during the first quarter, owning approximately 1.14 million shares valued at $77.29 million.
• CVS Health reported $1.81 earnings per share, beating analysts' expectations, alongside a revenue of $98.92 billion for its latest quarter.
• The company announced a quarterly dividend of $0.665 per share, representing an annual yield of 3.9%, with a payout ratio of approximately 74.30%.

Aberdeen Group plc grew its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 52.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,143,478 shares of the pharmacy operator's stock after buying an additional 393,367 shares during the period. Aberdeen Group plc owned 0.09% of CVS Health worth $77,288,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Essex Financial Services Inc. grew its holdings in shares of CVS Health by 0.8% in the first quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator's stock valued at $1,403,000 after purchasing an additional 166 shares in the last quarter. Hemington Wealth Management grew its holdings in CVS Health by 33.7% during the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator's stock worth $46,000 after acquiring an additional 172 shares in the last quarter. McIlrath & Eck LLC grew its holdings in CVS Health by 32.6% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after acquiring an additional 174 shares in the last quarter. Sumitomo Life Insurance Co. grew its holdings in CVS Health by 1.0% during the 1st quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator's stock worth $1,159,000 after acquiring an additional 174 shares in the last quarter. Finally, Koshinski Asset Management Inc. grew its holdings in CVS Health by 3.7% during the 1st quarter. Koshinski Asset Management Inc. now owns 4,930 shares of the pharmacy operator's stock worth $334,000 after acquiring an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

Insiders Place Their Bets

In related news, Director Guy P. Sansone acquired 1,570 shares of CVS Health stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the acquisition, the director directly owned 12,007 shares of the company's stock, valued at $764,845.90. This trade represents a 15.04% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.22% of the stock is owned by insiders.

CVS Health Stock Up 0.3%

Shares of NYSE:CVS traded up $0.2150 during midday trading on Wednesday, reaching $71.1850. The company had a trading volume of 2,854,389 shares, compared to its average volume of 9,858,692. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The stock's fifty day moving average price is $65.22 and its 200-day moving average price is $64.86. The stock has a market capitalization of $90.29 billion, a P/E ratio of 19.89, a PEG ratio of 0.77 and a beta of 0.58.

CVS Health (NYSE:CVS - Get Free Report) last released its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The firm had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. During the same quarter in the previous year, the firm earned $1.83 earnings per share. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were issued a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 3.7%. CVS Health's dividend payout ratio is presently 74.30%.

Wall Street Analyst Weigh In

Several research analysts have commented on CVS shares. Jefferies Financial Group boosted their price target on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Bernstein Bank lowered their price target on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a report on Wednesday, July 16th. Barclays boosted their price target on shares of CVS Health from $79.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Truist Financial boosted their price objective on shares of CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Finally, Wall Street Zen upgraded shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $76.67.

About CVS Health

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.