CVS Health Corporation $CVS Shares Purchased by Brooklyn Investment Group

Key Points

• Brooklyn Investment Group significantly increased its holdings in CVS Health Corporation by 373.8%, acquiring an additional 3,674 shares and bringing its total ownership to 4,657 shares valued at $315,000.
• Notable analysts have upgraded CVS Health's stock ratings, with Baird R W raising it to a strong-buy and Royal Bank of Canada increasing the price target from $74.00 to $81.00.
• CVS Health announced a quarterly dividend of $0.665 per share, yielding 3.7%, while maintaining a dividend payout ratio of 74.30%.

Brooklyn Investment Group boosted its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 373.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,657 shares of the pharmacy operator's stock after acquiring an additional 3,674 shares during the quarter. Brooklyn Investment Group's holdings in CVS Health were worth $315,000 as of its most recent filing with the SEC.

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

Insiders Place Their Bets

In related news, Director Guy P. Sansone purchased 1,570 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were bought at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the acquisition, the director directly owned 12,007 shares in the company, valued at $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.22% of the stock is currently owned by corporate insiders.

CVS Health Trading Down 0.4%

Shares of CVS Health stock traded down $0.2560 during trading hours on Friday, reaching $71.1740. 6,982,068 shares of the company's stock were exchanged, compared to its average volume of 8,748,738. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $72.51. The company has a fifty day moving average of $65.50 and a 200-day moving average of $65.18. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $90.27 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 0.79 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 EPS for the quarter, beating the consensus estimate of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. During the same period in the prior year, the firm posted $1.83 earnings per share. The business's quarterly revenue 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. Sell-side analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were given a dividend of $0.665 per share. 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 74.30%.

Analyst Upgrades and Downgrades

CVS has been the subject of several research reports. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Jefferies Financial Group upped their price target on shares of CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a report on Monday, June 30th. Baird R W raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Royal Bank Of Canada increased their target price on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Finally, Truist Financial boosted their price target on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, CVS Health has an average rating of "Buy" and an average price target of $76.67.

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.