WESPAC Advisors LLC Makes New Investment in CVS Health Corporation $CVS

Key Points

• WESPAC Advisors LLC invested approximately $763,000 in CVS Health by acquiring 11,063 shares during the second quarter of the year.
• CVS Health reported earnings of $1.81 per share for the last quarter, surpassing expectations and showcasing an 8.4% revenue growth year-over-year.
• The company announced a quarterly dividend of $0.665 per share, with a dividend yield of 3.4%, set to be paid to shareholders on November 3rd.

WESPAC Advisors LLC purchased a new position in shares of CVS Health Corporation (NYSE:CVS - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,063 shares of the pharmacy operator's stock, valued at approximately $763,000.

Several other large investors also recently made changes to their positions in the stock. Venturi Wealth Management LLC acquired a new stake in shares of CVS Health in the 2nd quarter valued at approximately $259,000. Friedenthal Financial acquired a new stake in shares of CVS Health in the 2nd quarter valued at approximately $917,000. Shell Asset Management Co. boosted its holdings in shares of CVS Health by 33.5% in the 2nd quarter. Shell Asset Management Co. now owns 61,776 shares of the pharmacy operator's stock valued at $4,261,000 after buying an additional 15,491 shares during the last quarter. KLP Kapitalforvaltning AS boosted its holdings in shares of CVS Health by 18.8% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 549,303 shares of the pharmacy operator's stock valued at $37,891,000 after buying an additional 87,000 shares during the last quarter. Finally, Avantra Family Wealth Inc. boosted its holdings in shares of CVS Health by 9.7% in the 2nd quarter. Avantra Family Wealth Inc. now owns 17,537 shares of the pharmacy operator's stock valued at $1,210,000 after buying an additional 1,555 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Stock Up 0.4%

CVS stock opened at $77.17 on Wednesday. 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 stock has a market capitalization of $97.88 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 0.85 and a beta of 0.60. The business's fifty day moving average price is $71.39 and its two-hundred day moving average price is $67.46. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $79.20.

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

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be given a dividend of $0.665 per share. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 annualized dividend and a yield of 3.4%. CVS Health's dividend payout ratio (DPR) is presently 74.30%.

Insiders Place Their Bets

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the 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 transaction, the director owned 22,156 shares in the company, valued at $1,573,519.12. This trade represents a 25.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.22% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Bernstein Bank cut their price objective on CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a report on Wednesday, July 16th. Baird R W upgraded CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Zacks Research cut CVS Health from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Barclays increased their price target on CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a research note on Thursday, September 4th. Finally, UBS Group upgraded CVS Health from a "neutral" rating to a "buy" rating and increased their price target for the company from $67.00 to $79.00 in a research note on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $79.20.

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.

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