Ameriprise Financial Inc. Increases Holdings in CVS Health Corporation $CVS

Key Points

• Ameriprise Financial Inc. has increased its stake in CVS Health Corporation by 2.0%, now owning approximately 7.47 million shares worth about $506.17 million.
• CVS Health's quarterly earnings surpassed expectations, reporting an EPS of $1.81 compared to an estimated $1.46, alongside a revenue of $98.92 billion.
• The company has declared a quarterly dividend of $0.665, representing an annualized yield of 3.7% and a payout ratio of 74.30%.

Ameriprise Financial Inc. grew its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,470,039 shares of the pharmacy operator's stock after purchasing an additional 148,546 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.59% of CVS Health worth $506,165,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Norinchukin Bank The grew its position in CVS Health by 15.5% during the 1st quarter. Norinchukin Bank The now owns 65,668 shares of the pharmacy operator's stock worth $4,449,000 after acquiring an additional 8,822 shares during the last quarter. CW Advisors LLC grew its position in CVS Health by 2.3% during the 1st quarter. CW Advisors LLC now owns 194,806 shares of the pharmacy operator's stock worth $13,198,000 after acquiring an additional 4,429 shares during the last quarter. United Asset Strategies Inc. grew its position in CVS Health by 9.9% during the 1st quarter. United Asset Strategies Inc. now owns 8,931 shares of the pharmacy operator's stock worth $605,000 after acquiring an additional 802 shares during the last quarter. Kaufman Rossin Wealth LLC bought a new position in CVS Health during the 1st quarter worth approximately $293,000. Finally, Price T Rowe Associates Inc. MD grew its position in CVS Health by 14.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator's stock worth $1,037,205,000 after acquiring an additional 1,942,886 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CVS shares. Barclays raised their price target on CVS Health from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Baird R W upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. UBS Group upgraded CVS Health from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $67.00 to $79.00 in a research report on Monday, August 18th. Bernstein Bank cut their price objective on CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 16th. Finally, Cowen reiterated a "buy" rating on shares of CVS Health in a research report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $76.67.

CVS Health Stock Down 0.1%

Shares of CVS traded down $0.08 on Monday, reaching $71.22. The stock had a trading volume of 4,665,750 shares, compared to its average volume of 9,804,958. The firm has a market capitalization of $90.33 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 0.79 and a beta of 0.58. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. The company has a 50-day simple moving average of $65.50 and a 200-day simple moving average of $65.25. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51.

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

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were given a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.7%. CVS Health's dividend payout ratio is currently 74.30%.

Insider Buying and Selling at CVS Health

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, with a total value of $100,009.00. Following the transaction, the director directly owned 12,007 shares of the company's stock, valued at $764,845.90. This represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.22% of the stock is owned by corporate insiders.

CVS Health 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.