CVS Health Corporation $CVS Position Increased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in CVS Health Corporation by 8.1%, owning 229,324 shares worth approximately $15.54 million following the purchase of an additional 17,213 shares.
• CVS Health reported a better-than-expected earnings per share (EPS) of $1.81 for the quarter, surpassing analyst estimates by $0.35, with quarterly revenue rising to $98.92 billion.
• The company also declared a quarterly dividend of $0.665 per share, reflecting a dividend yield of 3.7% and contributing to a payout ratio of 74.30%.

Northwestern Mutual Wealth Management Co. increased its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 229,324 shares of the pharmacy operator's stock after purchasing an additional 17,213 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in CVS Health were worth $15,537,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Ariston Services Group bought a new stake in shares of CVS Health in the 1st quarter worth approximately $272,000. Allstate Corp lifted its holdings in shares of CVS Health by 14.6% in the 1st quarter. Allstate Corp now owns 42,886 shares of the pharmacy operator's stock worth $2,906,000 after purchasing an additional 5,454 shares during the last quarter. Kestra Advisory Services LLC raised its stake in CVS Health by 8.3% during the 1st quarter. Kestra Advisory Services LLC now owns 86,770 shares of the pharmacy operator's stock valued at $5,879,000 after acquiring an additional 6,642 shares in the last quarter. Compound Planning Inc. raised its stake in CVS Health by 53.0% during the 1st quarter. Compound Planning Inc. now owns 22,223 shares of the pharmacy operator's stock valued at $1,506,000 after acquiring an additional 7,694 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in CVS Health by 2.0% during the 1st quarter. Ameriprise Financial Inc. now owns 7,470,039 shares of the pharmacy operator's stock valued at $506,165,000 after acquiring an additional 148,546 shares in the last quarter. Institutional investors own 80.66% of the company's stock.

CVS Health Stock Down 0.1%

Shares of CVS stock opened at $71.22 on Tuesday. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $72.51. The stock has a market cap of $90.33 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 0.79 and a beta of 0.58. The business's fifty day moving average is $65.57 and its 200-day moving average is $65.37. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80.

CVS Health (NYSE:CVS - Get Free Report) last issued 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 return on equity of 10.51% and a net margin of 1.17%.The company had revenue of $98.92 billion for the quarter, compared to analysts' expectations of $94.87 billion. During the same period last year, the firm earned $1.83 EPS. The firm's revenue for the quarter 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 analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

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

Wall Street Analysts Forecast Growth

CVS has been the topic of several recent analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating and set a $84.00 target price (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Robert W. Baird raised CVS Health from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $71.00 to $82.00 in a research note on Thursday, August 14th. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Morgan Stanley lifted their target price on CVS Health from $80.00 to $82.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Cowen reaffirmed a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, CVS Health presently has an average rating of "Buy" and a consensus target price of $76.67.

Insider Activity

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

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.

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