CVS Health Corporation $CVS Shares Purchased by Royal Fund Management LLC

Key Points

• Royal Fund Management increased its CVS Health position by 15% in the third quarter, purchasing 11,286 additional shares for a total holding of 86,465 shares valued at approximately $7.4 million.
• Institutional ownership remains high at 80.66%, with major investors including State Street, Bank of America, Wellington Management, BlackRock and Pzena Investment Management adjusting or initiating positions.
• Analysts maintain a Moderate Buy consensus with an average target price of $107.80. CVS also exceeded quarterly earnings expectations, reporting $2.58 in EPS and $106.1 billion in revenue, and declared a quarterly dividend of $0.665 per share.

Royal Fund Management LLC increased its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 15.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 86,465 shares of the pharmacy operator's stock after purchasing an additional 11,286 shares during the quarter. Royal Fund Management LLC's holdings in CVS Health were worth $7,409,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of CVS Health during the second quarter worth $12,747,462,000. State Street Corp raised its position in shares of CVS Health by 26.3% in the second quarter. State Street Corp now owns 74,927,064 shares of the pharmacy operator's stock valued at $7,751,205,000 after buying an additional 15,604,883 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of CVS Health by 148.0% in the second quarter. Bank of America Corp DE now owns 23,188,670 shares of the pharmacy operator's stock worth $2,398,868,000 after buying an additional 13,836,701 shares in the last quarter. Pzena Investment Management LLC purchased a new position in shares of CVS Health in the second quarter worth about $1,217,558,000. Finally, Wellington Management Group LLP boosted its position in CVS Health by 49.8% during the second quarter. Wellington Management Group LLP now owns 33,801,113 shares of the pharmacy operator's stock worth $3,496,725,000 after acquiring an additional 11,233,381 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CVS. Wells Fargo & Company upped their price objective on shares of CVS Health from $103.00 to $123.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. Wall Street Zen lowered shares of CVS Health from a "strong-buy" rating to a "buy" rating in a research note on Monday. Robert W. Baird set a $107.00 target price on CVS Health in a report on Thursday, August 6th. Argus upped their price target on CVS Health from $104.00 to $114.00 and gave the company a "buy" rating in a research report on Wednesday, August 19th. Finally, JPMorgan Chase & Co. increased their price target on CVS Health from $111.00 to $118.00 and gave the company an "overweight" rating in a report on Wednesday, August 12th. Twenty research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, CVS Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.80.

CVS Health Trading Up 1.2%

Shares of CVS stock opened at $94.54 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.66 and a debt-to-equity ratio of 0.74. CVS Health Corporation has a twelve month low of $69.51 and a twelve month high of $110.68. The company's 50-day moving average price is $91.67 and its 200-day moving average price is $93.78. The stock has a market cap of $120.92 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 0.87 and a beta of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.71. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. The firm had revenue of $106.10 billion during the quarter, compared to analysts' expectations of $100.03 billion. During the same period last year, the business earned $1.81 earnings per share. CVS Health's revenue was up 7.3% compared to the same quarter last year. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. As a group, equities analysts predict that CVS Health Corporation will post 8.02 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 22nd will be issued a dividend of $0.6650 per share. The ex-dividend date is Thursday, October 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.8%. CVS Health's dividend payout ratio (DPR) is currently 70.37%.

CVS Health Company Profile

CVS Health Corporation NYSE: CVS is a diversified health care company that provides pharmacy, insurance and health services in the United States. Its businesses serve consumers, employers, health plans and health care providers through pharmacies, benefit programs, insurance coverage and clinical care services.

The company's Pharmacy Services segment, led by CVS Caremark, manages prescription drug benefits for employers, insurers and government programs. CVS Pharmacy operates retail pharmacies and health-focused stores that dispense prescriptions and offer over-the-counter products, health and wellness merchandise, immunizations and related services.

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