Centennial Wealth Advisory LLC Purchases New Position in CVS Health Corporation $CVS

Key Points

• Centennial Wealth Advisory LLC acquired 7,516 shares of CVS Health Corporation, valued at approximately $519,000, marking a new stake in the company.
• CVS Health announced a quarterly dividend of $0.665 per share, with an ex-dividend date of October 23rd, translating to an annualized yield of 3.5%.
• Research analysts have set a consensus price target of $78.25 for CVS Health, with most analysts rating it as a "Moderate Buy."

Centennial Wealth Advisory LLC purchased a new stake in CVS Health Corporation (NYSE:CVS - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,516 shares of the pharmacy operator's stock, valued at approximately $519,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in CVS Health by 0.8% in the first quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator's stock valued at $8,017,223,000 after acquiring an additional 969,027 shares during the last quarter. Dodge & Cox increased its stake in CVS Health by 4.8% in the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator's stock valued at $4,976,856,000 after purchasing an additional 3,353,223 shares during the period. Invesco Ltd. increased its stake in CVS Health by 13.2% in the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator's stock valued at $1,383,039,000 after purchasing an additional 2,375,764 shares during the period. Price T Rowe Associates Inc. MD increased its stake in CVS Health by 14.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator's stock valued at $1,037,205,000 after purchasing an additional 1,942,886 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in CVS Health by 5.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator's stock valued at $924,643,000 after purchasing an additional 728,924 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the sale, the director owned 22,156 shares of the company's stock, valued at $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wolfe Research lifted their price objective on shares of CVS Health from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. Baird R W upgraded shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Cowen restated a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. UBS Group upgraded shares of CVS Health from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $67.00 to $79.00 in a research note on Monday, August 18th. Finally, Bernstein Bank dropped their price target on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $78.25.

CVS Health Stock Down 0.3%

CVS stock opened at $75.52 on Tuesday. The company has a market cap of $95.78 billion, a P/E ratio of 21.10, a P/E/G ratio of 0.84 and a beta of 0.62. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $77.34. The company's 50-day moving average price is $69.41 and its 200 day moving average price is $67.07. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) 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 company had revenue of $98.92 billion for the quarter, compared to the consensus estimate of $94.87 billion. During the same quarter in the prior year, the firm earned $1.83 earnings per share. The company'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. On average, research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health's dividend payout ratio is 74.30%.

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.

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