Cornerstone Advisors LLC Has $2.33 Million Holdings in CVS Health Corporation $CVS

Cornerstone Advisors LLC increased its holdings in CVS Health Corporation (NYSE:CVS) by 15.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,800 shares of the pharmacy operator’s stock after buying an additional 4,500 shares during the period. Cornerstone Advisors LLC’s holdings in CVS Health were worth $2,332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Hazlett Burt & Watson Inc. lifted its position in shares of CVS Health by 10.9% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,682 shares of the pharmacy operator’s stock valued at $117,000 after acquiring an additional 165 shares during the period. Williams Financial LLC lifted its position in CVS Health by 2.5% during the second quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator’s stock worth $478,000 after purchasing an additional 167 shares during the period. Hemington Wealth Management grew its stake in CVS Health by 33.7% during the first quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator’s stock worth $46,000 after buying an additional 172 shares in the last quarter. GW&K Investment Management LLC raised its position in shares of CVS Health by 39.4% in the 1st quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator’s stock valued at $43,000 after buying an additional 180 shares in the last quarter. Finally, Sunpointe LLC lifted its holdings in shares of CVS Health by 4.0% during the 2nd quarter. Sunpointe LLC now owns 4,760 shares of the pharmacy operator’s stock worth $328,000 after acquiring an additional 185 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CVS. Robert W. Baird upgraded shares of CVS Health from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $71.00 to $82.00 in a research report on Thursday, August 14th. Cantor Fitzgerald boosted their price target on CVS Health from $78.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Sanford C. Bernstein raised their price objective on CVS Health from $72.00 to $77.00 and gave the company a “market perform” rating in a research note on Friday, September 5th. Truist Financial reiterated a “buy” rating and issued a $95.00 target price (up previously from $92.00) on shares of CVS Health in a research report on Thursday, October 30th. Finally, Wells Fargo & Company reduced their price target on shares of CVS Health from $103.00 to $102.00 and set an “overweight” rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.41.

CVS Health Stock Down 1.7%

Shares of CVS opened at $77.86 on Monday. The stock’s 50-day moving average price is $77.70 and its two-hundred day moving average price is $69.96. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $85.15. The company has a market capitalization of $98.84 billion, a PE ratio of 204.90, a PEG ratio of 0.87 and a beta of 0.60. The company has a current ratio of 0.83, a quick ratio of 0.62 and a debt-to-equity ratio of 0.83.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, October 29th. The pharmacy operator reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.24. CVS Health had a return on equity of 11.45% and a net margin of 0.12%.The company had revenue of $102.87 billion during the quarter, compared to the consensus estimate of $98.85 billion. During the same period last year, the company earned $1.09 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.550-6.650 EPS. On average, analysts anticipate that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd were given a dividend of $0.665 per share. The ex-dividend date was Thursday, October 23rd. This represents a $2.66 annualized dividend and a dividend yield of 3.4%. CVS Health’s dividend payout ratio is 700.00%.

Insider Transactions at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following 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 legal filing with the SEC, which can be accessed through this hyperlink. 1.22% of the stock is currently owned by insiders.

About CVS Health

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.