Peak Financial Advisors LLC Makes New $1.02 Million Investment in CVS Health Corporation $CVS

Key Points

• Peak Financial Advisors LLC has invested $1.02 million in CVS Health Corporation, acquiring 14,809 shares in the 2nd quarter.
• CVS Health reported earnings of $1.81 per share in its latest quarter, exceeding analysts' expectations and showing an 8.4% year-over-year revenue increase.
• A quarterly dividend of $0.665 per share was announced by CVS Health, yielding approximately 3.5% annually, with a payout ratio of 74.30%.

Peak Financial Advisors LLC purchased a new position in shares of CVS Health Corporation (NYSE:CVS - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,809 shares of the pharmacy operator's stock, valued at approximately $1,022,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of CVS Health by 0.8% during the first quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator's stock worth $8,017,223,000 after purchasing an additional 969,027 shares in the last quarter. Dodge & Cox raised its holdings in shares of CVS Health by 4.8% during the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator's stock worth $4,976,856,000 after acquiring an additional 3,353,223 shares during the period. Invesco Ltd. raised its holdings in shares of CVS Health by 13.2% during the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator's stock worth $1,383,039,000 after acquiring an additional 2,375,764 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of CVS Health by 14.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator's stock worth $1,037,205,000 after acquiring an additional 1,942,886 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of CVS Health by 5.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator's stock worth $924,643,000 after acquiring an additional 728,924 shares during the period. 80.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the transaction, the director owned 22,156 shares of the company's stock, valued at $1,573,519.12. This trade represents 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 at the SEC website. 1.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CVS shares. Jefferies Financial Group raised their price objective on shares of CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Zacks Research lowered shares of CVS Health from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. UBS Group raised shares of CVS Health from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $67.00 to $79.00 in a research report on Monday, August 18th. Robert W. Baird raised shares of CVS Health from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $71.00 to $82.00 in a research report on Thursday, August 14th. Finally, Wall Street Zen cut shares of CVS Health from a "buy" rating to a "hold" rating in a research report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.89.

CVS Health Price Performance

CVS Health stock traded up $0.33 during mid-day trading on Friday, reaching $75.00. The company had a trading volume of 6,400,711 shares, compared to its average volume of 6,810,735. The business has a fifty day simple moving average of $67.11 and a 200 day simple moving average of $66.33. The company has a market cap of $95.12 billion, a P/E ratio of 20.95, a P/E/G ratio of 0.83 and a beta of 0.62. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $75.55. 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 released 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. The firm had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is currently 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.