Heritage Financial Services LLC Takes Position in CVS Health Corporation $CVS

Key Points

• Heritage Financial Services LLC acquired a new stake in CVS Health Corporation, purchasing 3,828 shares valued at approximately $259,000 in the first quarter.
• Several large investors increased their positions in CVS, with notable acquisitions including Wellington Management Group LLP, which boosted its stake by 83.2% to own 403,365 shares valued at $27.3 million.
• CVS Health reported a quarterly earnings EPS of $1.81, surpassing estimates and generated revenue of $98.92 billion, reflecting an increase of 8.4% compared to the previous year.

Heritage Financial Services LLC purchased a new stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,828 shares of the pharmacy operator's stock, valued at approximately $259,000.

Several other large investors have also recently modified their holdings of CVS. Vanguard Group Inc. increased its stake in CVS Health by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator's stock worth $8,017,223,000 after purchasing an additional 969,027 shares during the period. Invesco Ltd. increased its stake 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 buying an additional 2,375,764 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in CVS Health by 5.6% during the 1st 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 last quarter. Price T Rowe Associates Inc. MD grew its holdings in CVS Health by 14.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,366,403 shares of the pharmacy operator's stock worth $600,019,000 after acquiring an additional 1,660,321 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of CVS Health by 0.5% in the first quarter. Northern Trust Corp now owns 12,555,958 shares of the pharmacy operator's stock valued at $850,666,000 after acquiring an additional 64,002 shares during the period. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Stock Down 0.4%

CVS Health stock traded down $0.2560 on Friday, hitting $71.1740. 6,982,068 shares of the stock traded hands, compared to its average volume of 8,748,738. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $72.51. The firm has a market cap of $90.27 billion, a P/E ratio of 19.88, a price-to-earnings-growth ratio of 0.79 and a beta of 0.58. 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 business's fifty day simple moving average is $65.50 and its 200 day simple moving average is $65.18.

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 analysts' consensus estimates of $1.46 by $0.35. The company had revenue of $98.92 billion during the quarter, compared to analysts' expectations of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. CVS Health's revenue was up 8.4% on a year-over-year basis. During the same period last year, the company posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, sell-side analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The company 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 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, July 22nd. CVS Health's dividend payout ratio is currently 74.30%.

Insider Activity

In other news, Director Guy P. Sansone purchased 1,570 shares of CVS Health stock in a transaction that occurred on Thursday, June 5th. The stock was bought at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the transaction, the director directly owned 12,007 shares of the company's stock, valued at approximately $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.22% of the company's stock.

Analyst Ratings Changes

CVS has been the topic of several recent analyst reports. Cowen reissued a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Truist Financial boosted their target price on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. UBS Group raised shares of CVS Health from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $67.00 to $79.00 in a research report on Monday, August 18th. Finally, Barclays upped their price objective on shares of CVS Health from $79.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, CVS Health has a consensus rating of "Buy" and an average target price of $76.67.

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.