Cornerstone Wealth Group LLC Acquires Shares of 3,852 CVS Health Corporation $CVS

Cornerstone Wealth Group LLC acquired a new stake in shares of CVS Health Corporation (NYSE:CVSFree Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,852 shares of the pharmacy operator’s stock, valued at approximately $266,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jennison Associates LLC lifted its stake in CVS Health by 503.8% during the 1st quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator’s stock valued at $128,477,000 after acquiring an additional 1,582,257 shares during the period. Cantor Fitzgerald Investment Advisors L.P. lifted its stake in CVS Health by 1.6% during the 2nd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 409,735 shares of the pharmacy operator’s stock valued at $28,264,000 after acquiring an additional 6,615 shares during the period. Cerity Partners LLC increased its holdings in shares of CVS Health by 25.0% during the 1st quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator’s stock valued at $43,920,000 after purchasing an additional 129,535 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of CVS Health by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator’s stock valued at $608,481,000 after purchasing an additional 183,813 shares in the last quarter. Finally, Brandywine Global Investment Management LLC increased its holdings in shares of CVS Health by 20.1% during the 1st quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator’s stock valued at $231,808,000 after purchasing an additional 572,533 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Price Performance

CVS Health stock opened at $79.67 on Wednesday. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $79.94. The firm has a market capitalization of $101.05 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 0.87 and a beta of 0.60. The company has a fifty day simple moving average of $72.95 and a 200-day simple moving average of $67.83. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74.

CVS Health (NYSE:CVSGet Free Report) last released its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. During the same quarter in the prior year, the firm earned $1.83 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be issued a $0.665 dividend. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.3%. CVS Health’s dividend payout ratio is currently 74.30%.

Insider Activity

In related news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the completion of the sale, the director owned 22,156 shares of the company’s stock, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CVS shares. Cowen reaffirmed a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Mizuho lifted their target price on shares of CVS Health from $76.00 to $88.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CVS Health in a report on Tuesday. Bernstein Bank cut their price target on shares of CVS Health from $78.00 to $72.00 and set a “market perform” rating for the company in a report on Wednesday, July 16th. Finally, Zacks Research lowered shares of CVS Health from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $81.05.

View Our Latest Analysis on CVS

CVS Health Profile

(Free Report)

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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