State of Wyoming Makes New $291,000 Investment in CVS Health Corporation $CVS

Key Points

• The State of Wyoming has acquired 4,289 shares of CVS Health Corporation valued at approximately $291,000, marking a new investment in the company in the 1st quarter of the year.
• Various institutional investors have increased their stakes in CVS Health, with Vanguard Group and Price T Rowe Associates boosting their holdings by 0.8% and 14.5%, respectively.
• CVS Health reported earnings per share of $1.81 for the last quarter, surpassing estimates, and has set FY 2025 guidance at 6.300-6.400 EPS.

State of Wyoming bought a new stake in CVS Health Corporation (NYSE:CVS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,289 shares of the pharmacy operator's stock, valued at approximately $291,000.

Several other institutional investors have also recently made changes to their positions in the stock. Jennison Associates LLC boosted 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 acquiring an additional 1,582,257 shares during the period. Cerity Partners LLC lifted its position 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 valued at $43,920,000 after acquiring an additional 129,535 shares during the period. Bank of New York Mellon Corp lifted its position 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 valued at $608,481,000 after acquiring an additional 183,813 shares during the period. Fairfax Financial Holdings Ltd. Can bought a new stake in shares of CVS Health during the 4th quarter valued at $121,742,000. Finally, Brandywine Global Investment Management LLC lifted its position in shares of CVS Health by 20.1% during the 1st quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator's stock valued at $231,808,000 after acquiring an additional 572,533 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CVS shares. Barclays boosted their price target on CVS Health from $80.00 to $87.00 and gave the stock an "overweight" rating in a report on Thursday. Morgan Stanley upped their price target on CVS Health from $80.00 to $82.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Truist Financial upped their target price on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Sanford C. Bernstein increased their price target on CVS Health from $72.00 to $77.00 and gave the stock a "market perform" rating in a report on Friday. Finally, Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $77.89.

Insider Buying and Selling

In related news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the sale, the director directly owned 22,156 shares in the company, valued at approximately $1,573,519.12. This trade represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.22% of the company's stock.

CVS Health Stock Up 0.1%

Shares of CVS stock traded up $0.07 during trading hours on Friday, reaching $73.76. The company had a trading volume of 5,074,859 shares, compared to its average volume of 5,804,935. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $74.53. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The business has a fifty day simple moving average of $66.60 and a 200-day simple moving average of $66.00. The company has a market cap of $93.56 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 0.81 and a beta of 0.62.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.35. The business had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.CVS Health's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Tuesday, July 22nd. CVS Health's dividend payout ratio (DPR) is 74.30%.

About CVS Health

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.