CVS Health Corporation $CVS Shares Acquired by Northern Trust Corp

Key Points

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Northern Trust Corp boosted its position in CVS Health Corporation (NYSE:CVS - Free Report) by 0.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,555,958 shares of the pharmacy operator's stock after buying an additional 64,002 shares during the period. Northern Trust Corp owned approximately 0.99% of CVS Health worth $850,666,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Whitebox Advisors LLC purchased a new stake in CVS Health in the 4th quarter worth approximately $249,000. Jennison Associates LLC raised its stake in shares of CVS Health by 503.8% during the 1st quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock worth $128,477,000 after buying an additional 1,582,257 shares during the period. Cerity Partners LLC raised its stake in shares of CVS Health by 25.0% during the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock worth $43,920,000 after buying an additional 129,535 shares during the period. Bank of New York Mellon Corp raised its stake in shares of CVS Health by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock worth $608,481,000 after buying an additional 183,813 shares during the period. Finally, Fairfax Financial Holdings Ltd. Can acquired a new position in shares of CVS Health during the 4th quarter worth approximately $121,742,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CVS. Truist Financial upped their target price on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Bernstein Bank reduced their price objective on CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a research note on Wednesday, July 16th. Baird R W raised CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Jefferies Financial Group raised their target price on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Finally, Cowen reaffirmed a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $76.67.

Insider Buying and Selling

In other news, Director Guy P. Sansone purchased 1,570 shares of the business's stock in a transaction on Thursday, June 5th. The shares were bought 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 directly owned 12,007 shares in the company, valued at approximately $764,845.90. This represents a 15.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.22% of the stock is currently owned by company insiders.

CVS Health Trading Down 0.4%

CVS Health stock traded down $0.2560 during midday trading on Friday, reaching $71.1740. 6,982,068 shares of the stock traded hands, compared to its average volume of 8,553,821. The company has a 50-day simple moving average of $65.50 and a two-hundred day simple moving average of $65.25. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $72.51. The firm has a market cap of $90.27 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 0.79 and a beta of 0.58. 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 posted its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The company had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same quarter last year, the company earned $1.83 EPS. CVS Health's revenue for the quarter was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 3.7%. CVS Health's payout ratio is 74.30%.

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.