First Trust Advisors LP Has $199.59 Million Stock Holdings in CVS Health Corporation $CVS

First Trust Advisors LP raised its stake in shares of CVS Health Corporation (NYSE:CVS) by 2.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,893,507 shares of the pharmacy operator’s stock after buying an additional 61,990 shares during the period. First Trust Advisors LP owned about 0.23% of CVS Health worth $199,594,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in CVS Health during the second quarter valued at $1,358,698,000. Goldman Sachs Group Inc. raised its stake in shares of CVS Health by 87.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator’s stock worth $672,598,000 after purchasing an additional 4,632,530 shares in the last quarter. Dodge & Cox lifted its holdings in shares of CVS Health by 4.8% during the 1st quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock valued at $4,976,856,000 after buying an additional 3,353,223 shares during the last quarter. Invesco Ltd. grew its stake in shares of CVS Health by 15.3% in the 2nd quarter. Invesco Ltd. now owns 23,532,479 shares of the pharmacy operator’s stock valued at $1,623,270,000 after buying an additional 3,118,626 shares in the last quarter. Finally, Nuveen LLC acquired a new position in CVS Health in the first quarter worth approximately $204,421,000. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Stock Performance

Shares of NYSE CVS opened at $76.75 on Friday. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $85.15. The company has a market cap of $97.42 billion, a P/E ratio of 201.97, a P/E/G ratio of 0.73 and a beta of 0.48. The business’s 50 day moving average is $78.75 and its two-hundred day moving average is $71.15. The company has a quick ratio of 0.63, a current ratio of 0.83 and a debt-to-equity ratio of 0.83.

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

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 23rd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Thursday, October 23rd. CVS Health’s dividend payout ratio (DPR) is presently 700.00%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. UBS Group reissued a “buy” rating on shares of CVS Health in a research report on Wednesday. Argus boosted their price target on CVS Health from $80.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Truist Financial reissued a “buy” rating and set a $95.00 price objective (up previously from $92.00) on shares of CVS Health in a report on Thursday, October 30th. Finally, Jefferies Financial Group boosted their target price on CVS Health from $92.00 to $98.00 in a report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.95.

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.