Allstate Corp Increases Position in CVS Health Corporation $CVS

Key Points

• Allstate Corp increased its stake in CVS Health Corporation by 14.6%, bringing its total shares to 42,886, worth approximately $2.9 million.
• CVS Health recently reported earnings of $1.81 per share for the last quarter, surpassing estimates and highlighting an 8.4% year-over-year revenue increase.
• Several brokerages recently upgraded CVS's stock ratings, with target prices now ranging from $76.67 to $84.00.

Allstate Corp increased its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 14.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,886 shares of the pharmacy operator's stock after purchasing an additional 5,454 shares during the period. Allstate Corp's holdings in CVS Health were worth $2,906,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its stake in shares of CVS Health by 14.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,366,403 shares of the pharmacy operator's stock worth $600,019,000 after purchasing an additional 1,660,321 shares during the last quarter. MGO One Seven LLC raised its stake in shares of CVS Health by 4.2% during the 4th quarter. MGO One Seven LLC now owns 21,484 shares of the pharmacy operator's stock worth $964,000 after buying an additional 868 shares in the last quarter. Coppell Advisory Solutions LLC raised its stake in shares of CVS Health by 17.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator's stock worth $56,000 after buying an additional 189 shares in the last quarter. Syon Capital LLC raised its stake in shares of CVS Health by 3.4% during the 4th quarter. Syon Capital LLC now owns 7,526 shares of the pharmacy operator's stock worth $338,000 after buying an additional 247 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in shares of CVS Health by 331.2% during the 4th quarter. Voya Investment Management LLC now owns 2,872,542 shares of the pharmacy operator's stock worth $128,948,000 after buying an additional 2,206,299 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Trading Up 0.5%

Shares of CVS traded up $0.39 during trading hours on Wednesday, hitting $71.94. The stock had a trading volume of 3,445,680 shares, compared to its average volume of 9,738,598. 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 firm has a market cap of $91.24 billion, a P/E ratio of 20.09, a P/E/G ratio of 0.79 and a beta of 0.58. The company's fifty day simple moving average is $65.66 and its 200 day simple moving average is $65.42. 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 issued its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, topping 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 business had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same period last year, the company posted $1.83 EPS. The business's quarterly revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders 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 annualized dividend and a yield of 3.7%. CVS Health's dividend payout ratio (DPR) is 74.30%.

Insider Buying and Selling

In related news, Director Guy P. Sansone acquired 1,570 shares of the business's stock in a transaction on Thursday, June 5th. The shares were bought at an average cost of $63.70 per share, with a total value of $100,009.00. Following the completion of the transaction, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Barclays upped their price target on CVS Health from $79.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Baird R W upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Wells Fargo & Company reiterated an "overweight" rating and set a $84.00 target price (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Robert W. Baird upgraded CVS Health from a "neutral" rating to an "outperform" rating and increased their target price for the company from $71.00 to $82.00 in a report on Thursday, August 14th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, CVS Health currently has an average rating of "Buy" and a consensus price target of $77.56.

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.