Ieq Capital LLC Purchases 180,495 Shares of CVS Health Corporation $CVS

Key Points

• Ieq Capital LLC significantly increased its holdings in CVS Health by 665.5% during the first quarter, owning 207,616 shares valued at approximately $14 million.
• Analyst ratings for CVS Health have improved, with the company receiving multiple upgrades, including a buy rating and a target price increase from $67 to $79.
• CVS Health recently announced a quarterly dividend of $0.665 per share, which contributes to an annualized dividend yield of 3.7%.

Ieq Capital LLC lifted its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 665.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 207,616 shares of the pharmacy operator's stock after acquiring an additional 180,495 shares during the quarter. Ieq Capital LLC's holdings in CVS Health were worth $14,066,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. McIlrath & Eck LLC increased its stake in shares of 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 acquiring an additional 174 shares during the last quarter. Costello Asset Management INC increased its stake in shares of 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 acquiring an additional 422 shares during the last quarter. Stone House Investment Management LLC acquired a new position in shares of CVS Health in the first quarter worth $39,000. Park Square Financial Group LLC acquired a new position in CVS Health during the fourth quarter worth $43,000. Finally, GW&K Investment Management LLC increased its position in CVS Health by 39.4% during the first quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock worth $43,000 after buying an additional 180 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Performance

CVS stock traded up $1.03 during mid-day trading on Monday, hitting $73.17. 6,391,563 shares of the company were exchanged, compared to its average volume of 6,107,539. The business has a 50 day simple moving average of $66.00 and a 200-day simple moving average of $65.72. 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 capitalization of $92.80 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 0.81 and a beta of 0.62. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $73.23.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.35. The firm had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the business posted $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were given 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 was Tuesday, July 22nd. CVS Health's payout ratio is presently 74.30%.

Insider Buying and Selling

In other news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the sale, the director directly owned 22,156 shares in the company, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Guy P. Sansone purchased 1,570 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was acquired 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 owned 12,007 shares of the company's stock, valued at $764,845.90. This represents a 15.04% increase in their position. The disclosure for this purchase can be found here. 1.22% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CVS has been the topic of several analyst reports. Bernstein Bank lowered their target price on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 16th. Truist Financial raised their price target on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Barclays lifted their price objective on CVS Health from $79.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Cowen restated a "buy" rating on shares of CVS Health in a research report on Monday, August 4th. 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's stock. Based on data from MarketBeat.com, CVS Health presently has a consensus rating of "Buy" and a consensus target price of $77.56.

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.