United Bank Buys New Holdings in CVS Health Corporation $CVS

United Bank purchased a new position in CVS Health Corporation (NYSE:CVS) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 21,751 shares of the pharmacy operator’s stock, valued at approximately $2,250,000.

A number of other institutional investors have also added to or reduced their stakes in CVS. BlackRock Inc. purchased a new position in shares of CVS Health in the second quarter worth $12,747,462,000. Vanguard Group Inc. boosted its position in shares of CVS Health by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 120,709,530 shares of the pharmacy operator’s stock worth $9,579,508,000 after acquiring an additional 1,824,424 shares during the last quarter. State Street Corp grew its stake in CVS Health by 2.1% during the fourth quarter. State Street Corp now owns 60,183,743 shares of the pharmacy operator’s stock valued at $4,776,182,000 after acquiring an additional 1,245,457 shares in the last quarter. Capital International Investors increased its holdings in CVS Health by 3.4% in the 4th quarter. Capital International Investors now owns 27,592,356 shares of the pharmacy operator’s stock valued at $2,189,793,000 after acquiring an additional 900,153 shares during the last quarter. Finally, Norges Bank purchased a new stake in CVS Health in the 4th quarter worth $1,666,265,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Down 1.4%

CVS stock opened at $93.58 on Thursday. CVS Health Corporation has a twelve month low of $69.51 and a twelve month high of $110.68. The stock has a market capitalization of $119.68 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 0.91 and a beta of 0.61. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 0.74. The firm’s fifty day simple moving average is $102.32 and its two-hundred day simple moving average is $88.69.

CVS Health (NYSE:CVS) last released 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. The firm had revenue of $106.10 billion during the quarter, compared to analysts’ expectations of $100.03 billion. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.81 EPS. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. As a group, analysts anticipate that CVS Health Corporation will post 8.02 earnings per share for the current year.

CVS Health Dividend Announcement

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

Analyst Ratings Changes

CVS has been the subject of a number of research analyst reports. Mizuho raised their price objective on CVS Health from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. DA Davidson boosted their target price on CVS Health from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley increased their price target on CVS Health from $106.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Piper Sandler restated an “overweight” rating and set a $113.00 price target on shares of CVS Health in a report on Monday, June 1st. Finally, Barclays upped their price objective on CVS Health from $106.00 to $108.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Twenty-two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.17.

CVS Health Company Profile

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.