Kestra Advisory Services LLC Raises Holdings in CVS Health Corporation $CVS

Key Points

• Kestra Advisory Services LLC increased its holdings in CVS Health Corporation by 8.3% in the first quarter, bringing their total to 86,770 shares valued at approximately $5.88 million.
• CVS Health reported an earnings per share (EPS) of $1.81 for the last quarter, surpassing analysts' expectations of $1.46, with revenue reaching $98.92 billion.
• Following recent performance, several analysts have raised their price targets for CVS Health, with Morgan Stanley setting a new target of $82.00 and Wells Fargo increasing theirs to $84.00.

Kestra Advisory Services LLC grew its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 8.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,770 shares of the pharmacy operator's stock after buying an additional 6,642 shares during the period. Kestra Advisory Services LLC's holdings in CVS Health were worth $5,879,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Compound Planning Inc. lifted its position in shares of CVS Health by 53.0% during the 1st quarter. Compound Planning Inc. now owns 22,223 shares of the pharmacy operator's stock valued at $1,506,000 after buying an additional 7,694 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in CVS Health by 2.0% during the 1st quarter. Ameriprise Financial Inc. now owns 7,470,039 shares of the pharmacy operator's stock worth $506,165,000 after purchasing an additional 148,546 shares in the last quarter. Norinchukin Bank The lifted its holdings in CVS Health by 15.5% during the 1st quarter. Norinchukin Bank The now owns 65,668 shares of the pharmacy operator's stock worth $4,449,000 after purchasing an additional 8,822 shares in the last quarter. CW Advisors LLC lifted its holdings in CVS Health by 2.3% during the 1st quarter. CW Advisors LLC now owns 194,806 shares of the pharmacy operator's stock worth $13,198,000 after purchasing an additional 4,429 shares in the last quarter. Finally, United Asset Strategies Inc. lifted its holdings in CVS Health by 9.9% during the 1st quarter. United Asset Strategies Inc. now owns 8,931 shares of the pharmacy operator's stock worth $605,000 after purchasing an additional 802 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Stock Performance

NYSE:CVS opened at $71.22 on Tuesday. The business's 50-day moving average price is $65.57 and its two-hundred day moving average price is $65.37. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $72.51. 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. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74.

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

CVS Health Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.7%. CVS Health's dividend payout ratio is 74.30%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley increased their price objective on CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Wells Fargo & Company reissued an "overweight" rating and set a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Baird R W raised CVS Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Finally, Barclays raised their price target on CVS Health from $79.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, 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 acquired 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the transaction, the director owned 12,007 shares of the company's stock, valued at $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company 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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