NewEdge Wealth LLC cut its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 41.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,603 shares of the pharmacy operator's stock after selling 10,496 shares during the quarter. NewEdge Wealth LLC's holdings in CVS Health were worth $1,049,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of CVS Health by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 120,709,530 shares of the pharmacy operator's stock worth $9,579,508,000 after purchasing an additional 1,824,424 shares during the period. State Street Corp lifted its stake in shares of CVS Health by 2.1% during the 4th quarter. State Street Corp now owns 60,183,743 shares of the pharmacy operator's stock valued at $4,776,182,000 after buying an additional 1,245,457 shares in the last quarter. Capital International Investors boosted its holdings in CVS Health by 3.4% in the 4th quarter. Capital International Investors now owns 27,592,356 shares of the pharmacy operator's stock worth $2,189,793,000 after buying an additional 900,153 shares during the period. Norges Bank purchased a new stake in CVS Health in the 4th quarter worth $1,666,265,000. Finally, Morgan Stanley increased its stake in CVS Health by 6.3% in the 4th quarter. Morgan Stanley now owns 20,373,774 shares of the pharmacy operator's stock worth $1,616,863,000 after buying an additional 1,211,631 shares in the last quarter. Institutional investors own 80.66% of the company's stock.
Insider Activity at CVS Health
In other news, EVP Tilak Mandadi sold 69,551 shares of the business's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $89.58, for a total transaction of $6,230,378.58. Following the transaction, the executive vice president owned 10,133 shares of the company's stock, valued at approximately $907,714.14. The trade was a 87.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Larry Robbins sold 1,983,538 shares of the firm's stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $94.45, for a total value of $187,345,164.10. Following the completion of the sale, the director owned 6,213,261 shares of the company's stock, valued at approximately $586,842,501.45. This represents a 24.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 3,441,551 shares of company stock worth $323,703,977. Corporate insiders own 0.85% of the company's stock.
CVS Health Stock Performance
Shares of NYSE:CVS opened at $107.05 on Tuesday. The firm has a fifty day simple moving average of $100.43 and a two-hundred day simple moving average of $86.35. CVS Health Corporation has a 52 week low of $58.99 and a 52 week high of $110.68. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $136.59 billion, a P/E ratio of 47.16, a PEG ratio of 1.05 and a beta of 0.61.
CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Wednesday, May 6th. The pharmacy operator reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.36. The firm had revenue of $100.43 billion for the quarter, compared to analysts' expectations of $94.99 billion. CVS Health had a net margin of 0.72% and a return on equity of 11.88%. The business's revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.25 EPS. CVS Health has set its FY 2026 guidance at 7.300-7.500 EPS. On average, analysts expect that CVS Health Corporation will post 7.46 earnings per share for the current fiscal year.
CVS Health Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Thursday, July 23rd will be issued a $0.665 dividend. The ex-dividend date is Thursday, July 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.5%. CVS Health's payout ratio is 117.18%.
Wall Street Analyst Weigh In
CVS has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on CVS Health from $106.00 to $111.00 and gave the company an "overweight" rating in a research report on Thursday, June 4th. Royal Bank Of Canada boosted their price target on CVS Health from $107.00 to $113.00 and gave the stock an "outperform" rating in a report on Thursday, July 9th. Piper Sandler reaffirmed an "overweight" rating and set a $113.00 price objective on shares of CVS Health in a report on Monday, June 1st. Sanford C. Bernstein boosted their target price on shares of CVS Health from $94.00 to $106.00 and gave the stock an "outperform" rating in a report on Tuesday, May 12th. Finally, Weiss Ratings upgraded shares of CVS Health from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, July 20th. Twenty-one equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.67.
Check Out Our Latest Report on CVS
About CVS Health
(
Free Report)
CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.
Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.
See Also
Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Corporation (NYSE:CVS - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider CVS Health, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CVS Health wasn't on the list.
While CVS Health currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
