CVS Health Corporation $CVS Shares Acquired by Comerica Bank

Key Points

• Comerica Bank increased its stake in CVS Health Corporation by 6.2%, now owning 291,508 shares worth approximately $19.75 million, as reported in its recent SEC filing.
• CVS Health recently posted earnings of $1.81 EPS for the quarter, exceeding analysts' estimates of $1.46, with revenues of $98.92 billion, a significant increase of 8.4% from the previous year.
• The company announced a quarterly dividend of $0.665 per share, resulting in an annualized dividend of $2.66 and a dividend yield of 3.7%, with a payout ratio of 74.30%.

Comerica Bank increased its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 6.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 291,508 shares of the pharmacy operator's stock after acquiring an additional 17,070 shares during the period. Comerica Bank's holdings in CVS Health were worth $19,750,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of CVS Health by 0.8% in the first quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator's stock worth $8,017,223,000 after acquiring an additional 969,027 shares during the last quarter. Dodge & Cox boosted its position in shares of CVS Health by 4.8% in the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator's stock worth $4,976,856,000 after acquiring an additional 3,353,223 shares during the last quarter. Invesco Ltd. boosted its position in shares of CVS Health by 13.2% in the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator's stock worth $1,383,039,000 after acquiring an additional 2,375,764 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of 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 worth $1,037,205,000 after acquiring an additional 1,942,886 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of 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 worth $924,643,000 after acquiring an additional 728,924 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Trading Down 0.1%

NYSE CVS opened at $71.22 on Tuesday. The company's fifty day simple moving average is $65.57 and its 200-day simple moving average is $65.37. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51. 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 stock has a market cap of $90.33 billion, a P/E ratio of 19.89, a PEG ratio of 0.79 and a beta of 0.58.

CVS Health (NYSE:CVS - Get Free Report) last posted its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business had revenue of $98.92 billion for the quarter, compared to analysts' expectations of $94.87 billion. During the same period in the previous year, the company posted $1.83 earnings per share. The business'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. Equities research analysts predict that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Morgan Stanley lifted their price target on shares of CVS Health from $80.00 to $82.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Robert W. Baird raised shares of CVS Health from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $71.00 to $82.00 in a research report on Thursday, August 14th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $84.00 price target (up from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Finally, Truist Financial lifted their price target on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Two equities research 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 company. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of "Buy" and an average price target of $76.67.

Insider Activity at CVS Health

In other news, Director Guy P. Sansone bought 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The shares were acquired 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 owned 12,007 shares in the company, valued at approximately $764,845.90. This trade represents a 15.04% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.22% of the company's stock.

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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