National Wealth Management Group LLC Purchases Shares of 13,153 CVS Health Corporation $CVS

National Wealth Management Group LLC purchased a new stake in CVS Health Corporation (NYSE:CVS) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,153 shares of the pharmacy operator’s stock, valued at approximately $891,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its holdings in CVS Health by 73.1% in the 1st quarter. NewEdge Advisors LLC now owns 99,176 shares of the pharmacy operator’s stock valued at $6,719,000 after buying an additional 41,871 shares during the period. Cinctive Capital Management LP acquired a new position in shares of CVS Health in the 1st quarter valued at $11,266,000. Alliancebernstein L.P. boosted its holdings in shares of CVS Health by 3.5% in the 1st quarter. Alliancebernstein L.P. now owns 1,489,965 shares of the pharmacy operator’s stock valued at $100,945,000 after purchasing an additional 50,968 shares during the last quarter. Banque Transatlantique SA acquired a new position in shares of CVS Health in the 1st quarter valued at $254,000. Finally, AQR Capital Management LLC boosted its holdings in shares of CVS Health by 38.2% in the 1st quarter. AQR Capital Management LLC now owns 3,687,268 shares of the pharmacy operator’s stock valued at $249,149,000 after purchasing an additional 1,020,094 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 0.4%

CVS stock opened at $73.59 on Friday. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $74.53. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $93.34 billion, a P/E ratio of 20.56, a PEG ratio of 0.81 and a beta of 0.62. The firm has a 50 day simple moving average of $66.49 and a 200-day simple moving average of $65.94.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 EPS for the quarter, topping the consensus estimate of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business had revenue of $98.92 billion for the quarter, compared to analysts’ expectations of $94.87 billion. During the same quarter last year, the company posted $1.83 earnings per share. The company’s quarterly revenue 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. On average, equities research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health’s dividend payout ratio is currently 74.30%.

Insider Activity

In related news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CVS shares. Morgan Stanley lifted their price target on shares of CVS Health from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Barclays raised their price objective on CVS Health from $80.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday. Jefferies Financial Group raised their price objective on CVS Health from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, June 30th. Wall Street Zen upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Finally, Baird R W raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $77.94.

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.