GK Wealth Management LLC Acquires Shares of 3,737 CVS Health Corporation $CVS

Key Points

• GK Wealth Management LLC acquired 3,737 shares of CVS Health Corporation, valued at approximately $253,000, in the first quarter.
• Multiple institutional investors, including Vanguard Group and Invesco Ltd., increased their stakes in CVS Health, highlighting strong institutional interest with over 80.66% of the company now owned by such investors.
• Analysts have raised price targets for CVS Health, with Morgan Stanley's target increasing to $82, reflecting a generally optimistic view on the stock's performance.

GK Wealth Management LLC acquired a new stake in CVS Health Corporation (NYSE:CVS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 3,737 shares of the pharmacy operator's stock, valued at approximately $253,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in CVS Health by 0.8% in the first quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator's stock valued at $8,017,223,000 after purchasing an additional 969,027 shares during the last quarter. Dodge & Cox increased its stake in shares of CVS Health by 4.8% during the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator's stock valued at $4,976,856,000 after buying an additional 3,353,223 shares during the period. Invesco Ltd. increased its stake in shares of CVS Health by 13.2% during the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator's stock valued at $1,383,039,000 after buying an additional 2,375,764 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of CVS Health by 14.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator's stock valued at $1,037,205,000 after buying an additional 1,942,886 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of CVS Health by 5.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator's stock valued at $924,643,000 after buying an additional 728,924 shares during the period. Institutional investors own 80.66% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley boosted 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. Jefferies Financial Group boosted their target price on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $78.00 price target on shares of CVS Health in a research note on Tuesday, August 26th. UBS Group raised CVS Health from a "neutral" rating to a "buy" rating and upped their price target for the stock from $67.00 to $79.00 in a research note on Monday, August 18th. Finally, Sanford C. Bernstein upped their price target on CVS Health from $72.00 to $77.00 and gave the stock a "market perform" rating in a research note on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $77.89.

CVS Health Trading Up 3.0%

NYSE CVS opened at $73.93 on Thursday. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $74.53. The stock has a market cap of $93.76 billion, a P/E ratio of 20.65, a P/E/G ratio of 0.79 and a beta of 0.62. The stock's fifty day moving average price is $66.82 and its 200-day moving average price is $66.14. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

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

CVS Health Dividend Announcement

The business 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. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's dividend payout ratio is currently 74.30%.

Insider Activity at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the sale, the director directly owned 22,156 shares of the company's stock, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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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