CVS Health Corporation $CVS Position Trimmed by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC lessened its position in CVS Health Corporation (NYSE:CVS) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 125,320 shares of the pharmacy operator’s stock after selling 825 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in CVS Health were worth $8,645,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in CVS Health by 0.8% during the first quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator’s stock valued at $8,017,223,000 after buying an additional 969,027 shares during the period. Dodge & Cox grew its stake in CVS Health by 4.8% in the 1st quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock valued at $4,976,856,000 after buying an additional 3,353,223 shares during the last quarter. Invesco Ltd. grew its stake in CVS Health by 13.2% in the 1st quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock valued at $1,383,039,000 after buying an additional 2,375,764 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in CVS Health by 14.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator’s stock valued at $1,037,205,000 after buying an additional 1,942,886 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in CVS Health by 5.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator’s stock valued at $924,643,000 after buying an additional 728,924 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insiders Place Their Bets

In related news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total value of $532,650.00. Following the transaction, the director directly owned 22,156 shares in the company, valued at $1,573,519.12. This represents a 25.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on CVS. Wells Fargo & Company raised their price target on shares of CVS Health from $84.00 to $103.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Morgan Stanley boosted their price target on shares of CVS Health from $82.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. The Goldman Sachs Group initiated coverage on shares of CVS Health in a research report on Tuesday, October 14th. They issued a “buy” rating and a $91.00 price target on the stock. Barclays boosted their price target on shares of CVS Health from $80.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, September 4th. Finally, Mizuho boosted their price target on shares of CVS Health from $76.00 to $88.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.57.

CVS Health Trading Down 1.1%

Shares of NYSE CVS opened at $81.07 on Friday. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $83.52. The company has a market cap of $102.82 billion, a PE ratio of 22.64, a P/E/G ratio of 0.90 and a beta of 0.60. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The company has a 50-day moving average of $75.31 and a two-hundred day moving average of $68.57.

CVS Health (NYSE:CVS) last announced its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share 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 company had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. During the same period in the previous year, the firm posted $1.83 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

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

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.