Summit Wealth Group LLC Co. Buys 15,672 Shares of CVS Health Corporation $CVS

Summit Wealth Group LLC Co. grew its stake in CVS Health Corporation (NYSE:CVS) by 424.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 19,361 shares of the pharmacy operator’s stock after buying an additional 15,672 shares during the quarter. Summit Wealth Group LLC Co.’s holdings in CVS Health were worth $1,659,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Kilter Group LLC bought a new stake in shares of CVS Health during the 2nd quarter worth $27,000. J.Safra Asset Management Corp purchased a new position in CVS Health in the second quarter worth $30,000. Beaird Harris Wealth Management LLC increased its stake in CVS Health by 201.0% in the second quarter. Beaird Harris Wealth Management LLC now owns 292 shares of the pharmacy operator’s stock valued at $30,000 after acquiring an additional 195 shares during the last quarter. Timbuktu Capital Management LLC bought a new position in CVS Health in the second quarter valued at $31,000. Finally, Dunhill Financial LLC purchased a new stake in CVS Health during the second quarter valued at about $32,000. Institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CVS. Truist Financial lifted their price target on CVS Health from $108.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada increased their price objective on CVS Health from $107.00 to $113.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th. Wells Fargo & Company raised their price objective on CVS Health from $103.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, July 13th. BMO Capital Markets set a $112.00 target price on CVS Health in a research report on Wednesday, September 9th. Finally, Wall Street Zen lowered CVS Health from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 19th. Nineteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $109.64.

CVS Health Price Performance

Shares of CVS Health stock opened at $88.54 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.87 and a quick ratio of 0.66. CVS Health Corporation has a one year low of $69.51 and a one year high of $110.68. The business’s 50 day simple moving average is $91.13 and its two-hundred day simple moving average is $88.80. The stock has a market capitalization of $113.24 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 0.84 and a beta of 0.60.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share for the quarter, beating 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 firm had revenue of $106.10 billion during the quarter, compared to analyst estimates of $100.03 billion. During the same quarter in the prior year, the firm posted $1.81 earnings per share. 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. Analysts forecast that CVS Health Corporation will post 8.02 EPS for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Thursday, October 22nd were given a dividend of $0.6650 per share. The ex-dividend date of this dividend was Thursday, October 22nd. This represents a $2.66 annualized dividend and a yield of 3.0%. CVS Health’s dividend payout ratio is presently 70.37%.

CVS Health Company Profile

CVS Health Corporation (NYSE: CVS) is a diversified health care company that provides pharmacy, insurance and health services in the United States. Its businesses serve consumers, employers, health plans and health care providers through pharmacies, benefit programs, insurance coverage and clinical care services.

The company’s Pharmacy Services segment, led by CVS Caremark, manages prescription drug benefits for employers, insurers and government programs. CVS Pharmacy operates retail pharmacies and health-focused stores that dispense prescriptions and offer over-the-counter products, health and wellness merchandise, immunizations and related services.