Tobam Invests $341,000 in CVS Health Corporation $CVS

Tobam purchased a new position in CVS Health Corporation (NYSE:CVS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,950 shares of the pharmacy operator’s stock, valued at approximately $341,000.

Several other hedge funds also recently added to or reduced their stakes in CVS. Vanguard Group Inc. increased its stake in CVS Health by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator’s stock worth $8,017,223,000 after buying an additional 969,027 shares during the period. Dodge & Cox grew its stake in CVS Health by 4.8% in the 1st quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock worth $4,976,856,000 after acquiring an additional 3,353,223 shares in the last quarter. Invesco Ltd. raised its stake in shares of CVS Health by 13.2% during the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock valued at $1,383,039,000 after acquiring an additional 2,375,764 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of CVS Health by 14.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator’s stock valued at $1,037,205,000 after purchasing an additional 1,942,886 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in CVS Health by 5.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator’s stock worth $924,643,000 after purchasing an additional 728,924 shares during the period. 80.66% of the stock is currently owned by institutional investors.

CVS Health Stock Up 2.8%

CVS Health stock opened at $79.73 on Wednesday. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $85.15. The company has a market cap of $101.22 billion, a PE ratio of 209.83, a PEG ratio of 0.87 and a beta of 0.60. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.62 and a current ratio of 0.83. The business’s 50-day simple moving average is $77.36 and its two-hundred day simple moving average is $69.67.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.24. CVS Health had a net margin of 0.12% and a return on equity of 11.45%. The company had revenue of $102.87 billion for the quarter, compared to the consensus estimate of $98.85 billion. During the same quarter in the prior year, the company earned $1.09 EPS. CVS Health’s quarterly revenue was up 7.8% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. Equities analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd were paid a dividend of $0.665 per share. The ex-dividend date was Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.3%. CVS Health’s dividend payout ratio (DPR) is presently 700.00%.

Insider Activity

In other news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value of $532,650.00. Following the sale, the director owned 22,156 shares in the company, valued at $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on CVS shares. Cantor Fitzgerald lifted their price objective on CVS Health from $78.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Piper Sandler lifted their price objective on shares of CVS Health from $81.00 to $99.00 in a report on Friday, October 31st. Baird R W upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Sanford C. Bernstein boosted their price target on CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a research report on Friday, September 5th. Finally, Leerink Partners lifted their target price on CVS Health from $86.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.45.

CVS Health Company 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.