Saudi Central Bank Purchases 42,199 Shares of CVS Health Corporation $CVS

Saudi Central Bank increased its holdings in CVS Health Corporation (NYSE:CVS) by 15.0% in the 2nd quarter, Holdings Channel reports. The fund owned 324,060 shares of the pharmacy operator’s stock after buying an additional 42,199 shares during the quarter. Saudi Central Bank’s holdings in CVS Health were worth $34,469,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CVS. Caitong International Asset Management Co. Ltd raised its position in shares of CVS Health by 407.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 350 shares of the pharmacy operator’s stock worth $26,000 after purchasing an additional 281 shares during the last quarter. Swiss RE Ltd. purchased a new position in shares of CVS Health in the fourth quarter worth $26,000. Kilter Group LLC bought a new position in shares of CVS Health during the second quarter valued at $27,000. Sankala Group LLC purchased a new stake in shares of CVS Health during the fourth quarter valued at $28,000. Finally, Global Trust Asset Management LLC raised its position in CVS Health by 344.8% in the 1st quarter. Global Trust Asset Management LLC now owns 387 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Trading Down 0.4%

Shares of CVS stock opened at $96.80 on Friday. The stock has a fifty day simple moving average of $100.79 and a two-hundred day simple moving average of $90.14. The firm has a market capitalization of $123.80 billion, a PE ratio of 25.61, a PEG ratio of 0.94 and a beta of 0.59. CVS Health Corporation has a 52-week low of $69.51 and a 52-week high of $110.68. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.66 and a current ratio of 0.87.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, August 5th. The pharmacy operator reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.71. CVS Health had a return on equity of 13.12% and a net margin of 1.18%.The company had revenue of $106.10 billion for the quarter, compared to analysts’ expectations of $100.03 billion. During the same period in the previous year, the firm earned $1.81 EPS. The firm’s 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, analysts predict that CVS Health Corporation will post 8.02 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd were issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Thursday, July 23rd. CVS Health’s dividend payout ratio is 70.37%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings raised shares of CVS Health from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Sanford C. Bernstein boosted their price objective on shares of CVS Health from $94.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Barclays raised their target price on shares of CVS Health from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. TD Cowen boosted their target price on shares of CVS Health from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, Wells Fargo & Company raised their price objective on shares of CVS Health from $103.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Twenty-two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.83.

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.