NBT Bank N.A. Buys New Stake in CVS Health Corporation $CVS

Key Points

• NBT Bank acquired 37,187 CVS Health shares in the third quarter, valued at approximately $3.19 million. Institutional investors and hedge funds collectively own 80.66% of CVS stock.
• Analysts maintain a generally positive view, with 20 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $107.80.
• CVS exceeded quarterly expectations, reporting $2.58 in EPS and $106.1 billion in revenue, while maintaining a quarterly dividend of $0.665 per share, or a 2.8% annualized yield.

NBT Bank N.A. bought a new position in shares of CVS Health Corporation (NYSE:CVS - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 37,187 shares of the pharmacy operator's stock, valued at approximately $3,187,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Root Financial Partners LLC grew its stake in CVS Health by 7.7% in the 3rd quarter. Root Financial Partners LLC now owns 5,790 shares of the pharmacy operator's stock valued at $496,000 after buying an additional 416 shares during the last quarter. Investment House LLC raised its holdings in CVS Health by 16.9% in the 3rd quarter. Investment House LLC now owns 10,391 shares of the pharmacy operator's stock worth $890,000 after acquiring an additional 1,503 shares during the period. E. Ohman J or Asset Management AB raised its holdings in CVS Health by 3.3% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 31,455 shares of the pharmacy operator's stock worth $2,695,000 after acquiring an additional 1,000 shares during the period. Marion Wealth Management lifted its position in CVS Health by 82.8% during the 3rd quarter. Marion Wealth Management now owns 3,738 shares of the pharmacy operator's stock worth $320,000 after acquiring an additional 1,693 shares during the last quarter. Finally, Kachkovsky & Fisher Inc. acquired a new position in CVS Health during the 3rd quarter worth $201,000. Institutional investors and hedge funds own 80.66% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CVS. HSBC reaffirmed a "hold" rating and issued a $103.00 price target on shares of CVS Health in a research report on Monday, July 6th. Wells Fargo & Company boosted their price objective on CVS Health from $103.00 to $123.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. JPMorgan Chase & Co. increased their target price on CVS Health from $111.00 to $118.00 and gave the company an "overweight" rating in a research note on Wednesday, August 12th. Argus raised their target price on CVS Health from $104.00 to $114.00 and gave the company a "buy" rating in a report on Wednesday, August 19th. Finally, Piper Sandler set a $112.00 target price on CVS Health in a report on Wednesday, September 9th. Twenty investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $107.80.

CVS Health Price Performance

NYSE:CVS opened at $94.54 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.87 and a quick ratio of 0.66. CVS Health Corporation has a one year low of $69.51 and a one year high of $110.68. The company has a fifty day moving average price of $91.67 and a 200 day moving average price of $93.78. The stock has a market cap of $120.92 billion, a P/E ratio of 25.01, a PEG ratio of 0.87 and a beta of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.71. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. The company had revenue of $106.10 billion for the quarter, compared to analyst estimates of $100.03 billion. During the same period last year, the business posted $1.81 EPS. The business's quarterly revenue was up 7.3% on a year-over-year basis. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. Analysts anticipate that CVS Health Corporation will post 8.02 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 22nd will be paid a $0.6650 dividend. This represents a $2.66 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Thursday, October 22nd. CVS Health's dividend payout ratio (DPR) is presently 70.37%.

About CVS Health

CVS Health Corporation NYSE: CVS is a diversified health care company that provides pharmacy, insurance and health services in the United States. Its businesses serve consumers, employers, health plans and health care providers through pharmacies, benefit programs, insurance coverage and clinical care services.

The company's Pharmacy Services segment, led by CVS Caremark, manages prescription drug benefits for employers, insurers and government programs. CVS Pharmacy operates retail pharmacies and health-focused stores that dispense prescriptions and offer over-the-counter products, health and wellness merchandise, immunizations and related services.

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