Envestnet Asset Management Inc. Boosts Position in CVS Health Corporation $CVS

Envestnet Asset Management Inc. lifted its holdings in shares of CVS Health Corporation (NYSE:CVS) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,990,902 shares of the pharmacy operator’s stock after purchasing an additional 51,076 shares during the period. Envestnet Asset Management Inc. owned about 0.16% of CVS Health worth $150,094,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of CVS Health during the second quarter worth $1,358,698,000. Invesco Ltd. grew its holdings in shares of CVS Health by 15.3% during the 2nd quarter. Invesco Ltd. now owns 23,532,479 shares of the pharmacy operator’s stock worth $1,623,270,000 after purchasing an additional 3,118,626 shares during the period. Jennison Associates LLC raised its holdings in CVS Health by 111.7% in the second quarter. Jennison Associates LLC now owns 4,014,139 shares of the pharmacy operator’s stock valued at $276,895,000 after buying an additional 2,117,798 shares during the period. Vanguard Group Inc. lifted its position in CVS Health by 1.7% during the second quarter. Vanguard Group Inc. now owns 120,399,131 shares of the pharmacy operator’s stock valued at $8,305,132,000 after buying an additional 2,063,737 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of CVS Health by 153.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,105,827 shares of the pharmacy operator’s stock valued at $214,240,000 after acquiring an additional 1,878,217 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

CVS Health Stock Up 2.7%

Shares of CVS Health stock opened at $78.38 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.63. CVS Health Corporation has a 52-week low of $53.36 and a 52-week high of $85.15. The stock has a 50-day simple moving average of $78.62 and a 200-day simple moving average of $75.55. The firm has a market cap of $99.50 billion, a price-to-earnings ratio of 206.27, a P/E/G ratio of 0.70 and a beta of 0.50.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Thursday, January 22nd were paid a $0.665 dividend. The ex-dividend date was Thursday, January 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 3.4%. CVS Health’s dividend payout ratio (DPR) is presently 700.00%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVS. Wells Fargo & Company decreased their target price on shares of CVS Health from $103.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, November 13th. Jefferies Financial Group raised their target price on shares of CVS Health from $92.00 to $98.00 in a report on Thursday, October 30th. Wolfe Research lifted their price target on CVS Health from $85.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, December 8th. Robert W. Baird boosted their price objective on CVS Health from $82.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Finally, Morgan Stanley lifted their target price on CVS Health from $89.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Nineteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, CVS Health has an average rating of “Moderate Buy” and a consensus price target of $94.82.

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.