Elevation Point Wealth Partners LLC Acquires New Shares in CVS Health Corporation $CVS

Elevation Point Wealth Partners LLC bought a new position in CVS Health Corporation (NYSE:CVS) in the second quarter, Holdings Channel.com reports. The firm bought 18,719 shares of the pharmacy operator’s stock, valued at approximately $1,936,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sei Investments Co. lifted its stake in CVS Health by 17.4% in the 2nd quarter. Sei Investments Co. now owns 905,715 shares of the pharmacy operator’s stock valued at $62,474,000 after purchasing an additional 134,535 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of CVS Health by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,121,377 shares of the pharmacy operator’s stock worth $77,353,000 after buying an additional 13,329 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of CVS Health by 1.3% during the second quarter. Treasurer of the State of North Carolina now owns 585,073 shares of the pharmacy operator’s stock worth $40,358,000 after buying an additional 7,588 shares in the last quarter. HUB Investment Partners LLC lifted its stake in shares of CVS Health by 25.0% in the 2nd quarter. HUB Investment Partners LLC now owns 15,063 shares of the pharmacy operator’s stock valued at $1,039,000 after acquiring an additional 3,011 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in CVS Health by 8.0% during the 2nd quarter. Alliancebernstein L.P. now owns 1,609,404 shares of the pharmacy operator’s stock worth $111,017,000 after acquiring an additional 119,439 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

CVS Health Price Performance

CVS Health stock opened at $93.01 on Monday. The stock has a market capitalization of $118.96 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 0.85 and a beta of 0.61. CVS Health Corporation has a 52-week low of $69.51 and a 52-week high of $110.68. The stock’s 50 day moving average price is $102.02 and its two-hundred day moving average price is $88.95. 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 released its quarterly earnings data on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.71. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. The company had revenue of $106.10 billion during the quarter, compared to analyst estimates of $100.03 billion. During the same quarter in the previous year, the business posted $1.81 EPS. CVS Health’s revenue for the quarter 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, equities analysts predict that CVS Health Corporation will post 8.02 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, July 23rd. CVS Health’s payout ratio is 70.37%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CVS shares. 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. Barclays boosted 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. Weiss Ratings upgraded shares of CVS Health from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 5th. Morgan Stanley increased their price objective on CVS Health from $106.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Finally, Cantor Fitzgerald lifted their target price on CVS Health from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.17.

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.