NewEdge Wealth LLC Purchases New Shares in CVS Health Corporation $CVS

NewEdge Wealth LLC bought a new position in CVS Health Corporation (NYSE:CVS) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 20,936 shares of the pharmacy operator’s stock, valued at approximately $2,166,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its holdings in CVS Health by 17.4% during the 2nd quarter. Sei Investments Co. now owns 905,715 shares of the pharmacy operator’s stock valued at $62,474,000 after acquiring an additional 134,535 shares during the period. The Manufacturers Life Insurance Company increased its position in CVS Health by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,121,377 shares of the pharmacy operator’s stock valued at $77,353,000 after purchasing an additional 13,329 shares during the period. Treasurer of the State of North Carolina increased its position in shares of CVS Health by 1.3% during the second quarter. Treasurer of the State of North Carolina now owns 585,073 shares of the pharmacy operator’s stock valued at $40,358,000 after buying an additional 7,588 shares during the period. HUB Investment Partners LLC raised its position in shares of CVS Health by 25.0% in the 2nd quarter. HUB Investment Partners LLC now owns 15,063 shares of the pharmacy operator’s stock worth $1,039,000 after acquiring an additional 3,011 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in CVS Health by 8.0% in the second quarter. Alliancebernstein L.P. now owns 1,609,404 shares of the pharmacy operator’s stock worth $111,017,000 after purchasing an additional 119,439 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

CVS has been the topic of several research reports. Bank of America boosted their price objective on shares of CVS Health from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Cantor Fitzgerald lifted their target price on shares of CVS Health from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Mizuho boosted their price target on CVS Health from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Truist Financial raised their price objective on CVS Health from $108.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen raised CVS Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Twenty-two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.17.

CVS Health Trading Up 0.2%

Shares of CVS opened at $93.83 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.87 and a quick ratio of 0.66. The firm has a market cap of $120.01 billion, a P/E ratio of 24.82, a price-to-earnings-growth ratio of 0.89 and a beta of 0.61. The company has a 50 day simple moving average of $102.19 and a two-hundred day simple moving average of $88.83. CVS Health Corporation has a 1 year low of $69.51 and a 1 year high of $110.68.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, August 5th. The pharmacy operator reported $2.58 EPS for the quarter, topping the consensus estimate of $1.87 by $0.71. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. The business had revenue of $106.10 billion for the quarter, compared to analysts’ expectations of $100.03 billion. During the same quarter in the previous year, the company earned $1.81 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. On average, equities analysts expect that CVS Health Corporation will post 8.02 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 23rd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 2.8%. The ex-dividend date was Thursday, July 23rd. CVS Health’s dividend payout ratio is presently 70.37%.

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.