CVS Health Corporation $CVS Shares Acquired by WBI Investments LLC

Key Points

• WBI Investments LLC significantly increased its stake in CVS Health by 388.3%, holding 73,562 shares valued at approximately $4.98 million.
• Multiple hedge funds, including Vanguard Group Inc. and Dodge & Cox, also raised their stakes in CVS Health during the first quarter, indicating strong institutional interest.
• CVS Health's stock received upgrades from various analysts, with UBS raising their price target from $67 to $79, reflecting positive sentiment towards the company’s performance and future prospects.

WBI Investments LLC raised its position in CVS Health Corporation (NYSE:CVS - Free Report) by 388.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,562 shares of the pharmacy operator's stock after acquiring an additional 58,496 shares during the quarter. CVS Health makes up about 1.3% of WBI Investments LLC's investment portfolio, making the stock its 11th largest holding. WBI Investments LLC's holdings in CVS Health were worth $4,984,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CVS. Bell Investment Advisors Inc grew its holdings in CVS Health by 119.8% in the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator's stock worth $31,000 after purchasing an additional 248 shares during the period. McIlrath & Eck LLC boosted its stake in CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after buying an additional 174 shares in the last quarter. Saudi Central Bank bought a new position in shares of CVS Health during the first quarter valued at about $34,000. Costello Asset Management INC grew its stake in CVS Health by 281.3% in the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock worth $39,000 after purchasing an additional 422 shares during the period. Finally, Stone House Investment Management LLC bought a new position in shares of CVS Health in the first quarter worth approximately $39,000. Institutional investors own 80.66% of the company's stock.

CVS Health Stock Up 0.4%

Shares of NYSE:CVS traded up $0.33 during midday trading on Friday, hitting $75.00. 6,400,711 shares of the stock were exchanged, compared to its average volume of 6,903,319. The company has a market capitalization of $95.12 billion, a PE ratio of 20.95, a P/E/G ratio of 0.82 and a beta of 0.62. The business's fifty day simple moving average is $67.11 and its two-hundred day simple moving average is $66.30. 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 Corporation has a 52-week low of $43.56 and a 52-week high of $75.55.

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. The business had revenue of $98.92 billion for the quarter, compared to analyst estimates 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 in the prior year, the firm posted $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal 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 paid a $0.665 dividend. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.5%. CVS Health's dividend payout ratio (DPR) is presently 74.30%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Cowen reaffirmed a "buy" rating on shares of CVS Health in a report on Monday, August 4th. Robert W. Baird raised CVS Health from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $71.00 to $82.00 in a report on Thursday, August 14th. Jefferies Financial Group increased their price target on shares of CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Sanford C. Bernstein increased their price objective on CVS Health from $72.00 to $77.00 and gave the company a "market perform" rating in a research note on Friday, September 5th. Finally, Bernstein Bank reduced their price objective on CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a research note on Wednesday, July 16th. Two 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 MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $77.89.

Insider Buying and Selling

In related news, Director Anne A. Finucane sold 7,500 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the transaction, the director owned 22,156 shares in the company, valued at $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.22% of the stock is currently owned by corporate 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.