13,153 Shares in CVS Health Corporation $CVS Purchased by National Wealth Management Group LLC

Key Points

• National Wealth Management Group LLC acquired 13,153 shares of CVS Health, valued at approximately $891,000, during the 1st quarter according to its latest SEC filing.
• CVS Health reported strong quarterly earnings with an EPS of $1.81, exceeding estimates of $1.46, and an 8.4% increase in revenue year-over-year, totaling $98.92 billion.
• The company declared a quarterly dividend of $0.665 per share, reflecting an annualized dividend yield of 3.6% and a payout ratio of 74.30%.

National Wealth Management Group LLC acquired a new position in shares of CVS Health Corporation (NYSE:CVS - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 13,153 shares of the pharmacy operator's stock, valued at approximately $891,000.

A number of other hedge funds also recently made changes to their positions in CVS. NewEdge Advisors LLC raised its position in CVS Health by 73.1% in the 1st quarter. NewEdge Advisors LLC now owns 99,176 shares of the pharmacy operator's stock worth $6,719,000 after purchasing an additional 41,871 shares during the period. Cinctive Capital Management LP purchased a new position in CVS Health in the 1st quarter worth $11,266,000. Alliancebernstein L.P. raised its position in CVS Health by 3.5% in the 1st quarter. Alliancebernstein L.P. now owns 1,489,965 shares of the pharmacy operator's stock worth $100,945,000 after purchasing an additional 50,968 shares during the period. Banque Transatlantique SA purchased a new position in CVS Health in the 1st quarter worth $254,000. Finally, AQR Capital Management LLC raised its position in CVS Health by 38.2% in the 1st quarter. AQR Capital Management LLC now owns 3,687,268 shares of the pharmacy operator's stock worth $249,149,000 after purchasing an additional 1,020,094 shares during the period. 80.66% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Anne A. Finucane sold 7,500 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the transaction, the director owned 22,156 shares in the company, valued at $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.22% of the stock is owned by corporate insiders.

CVS Health Trading Up 0.1%

Shares of CVS stock traded up $0.07 during mid-day trading on Friday, reaching $73.76. The stock had a trading volume of 5,074,859 shares, compared to its average volume of 5,735,610. The stock's 50-day moving average price is $66.60 and its two-hundred day moving average price is $66.00. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $74.53. The firm has a market capitalization of $93.56 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 0.81 and a beta of 0.62. 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 announced its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The company had revenue of $98.92 billion for the quarter, compared to analysts' expectations of $94.87 billion. During the same quarter in the previous year, the company earned $1.83 earnings per share. CVS Health'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. Equities analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors 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 3.6%. CVS Health's payout ratio is currently 74.30%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CVS shares. Morgan Stanley lifted their target price on shares of CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Jefferies Financial Group lifted their target price on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. UBS Group upgraded 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. Bernstein Bank decreased their price objective 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. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $78.00 price objective on shares of CVS Health in a research report on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, CVS Health presently has a consensus rating of "Buy" and a consensus target price of $77.89.

CVS Health 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.