Everett Harris & Co. CA bought a new stake in CVS Health Corporation (NYSE:CVS – Free Report) in the 2nd quarter, Holdings Channel reports. The firm bought 8,693 shares of the pharmacy operator’s stock, valued at approximately $899,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in CVS Health by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 120,709,530 shares of the pharmacy operator’s stock valued at $9,579,508,000 after acquiring an additional 1,824,424 shares during the last quarter. State Street Corp increased 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 worth $4,776,182,000 after purchasing an additional 1,245,457 shares during the last quarter. Capital International Investors raised its holdings in shares of CVS Health by 3.4% in the 4th quarter. Capital International Investors now owns 27,592,356 shares of the pharmacy operator’s stock valued at $2,189,793,000 after purchasing an additional 900,153 shares during the period. Norges Bank bought a new stake in shares of CVS Health in the 4th quarter valued at about $1,666,265,000. Finally, Morgan Stanley lifted 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 valued at $1,616,863,000 after purchasing an additional 1,211,631 shares during the last quarter. 80.66% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, Director Larry Robbins sold 1,983,538 shares of CVS Health stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $94.45, for a total transaction 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 trade represents a 24.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 3,372,000 shares of company stock worth $317,473,598. 0.85% of the stock is owned by company insiders.
CVS Health Trading Up 2.2%
CVS Health (NYSE:CVS – Get Free Report) last posted its earnings results on Wednesday, August 5th. The pharmacy operator reported $2.58 EPS for the quarter, beating the consensus estimate of $1.87 by $0.71. The company had revenue of $106.10 billion for the quarter, compared to the consensus estimate of $100.03 billion. CVS Health had a return on equity of 13.12% and a net margin of 1.18%.The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.81 earnings per share. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. As a group, analysts predict that CVS Health Corporation will post 8.02 earnings per share for the current year.
CVS Health Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd were issued a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, July 23rd. CVS Health’s dividend payout ratio is currently 70.37%.
Wall Street Analysts Forecast Growth
CVS has been the topic of a number of recent analyst reports. Barclays boosted their price target on CVS Health from $106.00 to $108.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. DA Davidson raised their price objective on CVS Health from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Wells Fargo & Company boosted their target price on CVS Health from $103.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Royal Bank Of Canada increased their price target on CVS Health from $107.00 to $113.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Finally, Truist Financial lifted their price objective on shares of CVS Health from $108.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Twenty-two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.75.
View Our Latest Stock Analysis on CVS Health
About CVS Health
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.
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