Allworth Financial LP bought a new stake in CVS Health Corporation (NYSE:CVS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 33,215 shares of the pharmacy operator's stock, valued at approximately $3,436,000.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of CVS Health in the 2nd quarter valued at $12,747,462,000. Norges Bank purchased a new position in CVS Health in the fourth quarter valued at $1,666,265,000. Wellington Management Group LLP raised its stake in CVS Health by 193.2% in the fourth quarter. Wellington Management Group LLP now owns 18,564,392 shares of the pharmacy operator's stock valued at $1,473,270,000 after buying an additional 12,233,675 shares in the last quarter. Pzena Investment Management LLC purchased a new stake in CVS Health during the 2nd quarter worth about $1,217,558,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of CVS Health during the 2nd quarter worth about $932,454,000. 80.66% of the stock is owned by institutional investors and hedge funds.
CVS Health Stock Performance
NYSE CVS opened at $93.01 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a fifty-two week low of $69.51 and a fifty-two week high of $110.68. The business has a fifty day moving average of $102.02 and a 200-day moving average of $88.86. The stock has a market cap of $118.96 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 0.85 and a beta of 0.61.
CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share 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 the consensus estimate of $100.03 billion. CVS Health had a return on equity of 13.12% and a net margin of 1.18%.CVS Health's revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.81 EPS. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. As a group, analysts predict that CVS Health Corporation will post 8.02 earnings per share for the current fiscal year.
CVS Health Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 23rd were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a $2.66 annualized dividend and a yield of 2.9%. CVS Health's payout ratio is 70.37%.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on CVS shares. HSBC restated a "hold" rating and issued a $103.00 target price on shares of CVS Health in a report on Monday, July 6th. Wall Street Zen raised CVS Health from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Piper Sandler reiterated an "overweight" rating and set a $113.00 target price on shares of CVS Health in a research report on Monday, June 1st. Morgan Stanley boosted their target price on CVS Health from $106.00 to $111.00 and gave the company an "overweight" rating in a report on Thursday, June 4th. Finally, Sanford C. Bernstein raised their price target on CVS Health from $94.00 to $106.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 12th. Twenty-two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, CVS Health currently has an average rating of "Moderate Buy" and an average price target of $107.17.
Check Out Our Latest Stock Report on CVS
CVS Health Company Profile
(
Free Report)
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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