CVS Health Corporation $CVS Stock Holdings Trimmed by Newman Dignan & Sheerar Inc.

Newman Dignan & Sheerar Inc. lessened its holdings in shares of CVS Health Corporation (NYSE:CVS) by 3.2% in the second quarter, HoldingsChannel reports. The fund owned 9,064 shares of the pharmacy operator’s stock after selling 295 shares during the period. Newman Dignan & Sheerar Inc.’s holdings in CVS Health were worth $625,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Goldman Sachs Group Inc. raised its position in shares of CVS Health by 87.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator’s stock worth $672,598,000 after buying an additional 4,632,530 shares in the last quarter. Dodge & Cox increased its stake in shares of CVS Health by 4.8% during the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock valued at $4,976,856,000 after acquiring an additional 3,353,223 shares during the period. Nuveen LLC bought a new stake in CVS Health during the first quarter worth approximately $204,421,000. Assenagon Asset Management S.A. lifted its position in CVS Health by 310.8% in the first quarter. Assenagon Asset Management S.A. now owns 3,523,824 shares of the pharmacy operator’s stock worth $238,739,000 after purchasing an additional 2,666,029 shares during the period. Finally, Invesco Ltd. boosted its stake in CVS Health by 13.2% during the 1st quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock valued at $1,383,039,000 after purchasing an additional 2,375,764 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Price Performance

CVS opened at $76.84 on Thursday. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $77.54. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $97.46 billion, a P/E ratio of 21.46, a PEG ratio of 0.83 and a beta of 0.60. The stock has a fifty day moving average of $70.00 and a 200-day moving average of $67.19.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.35. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm had revenue of $98.92 billion during the quarter, compared to the consensus estimate of $94.87 billion. During the same period in the prior year, the business earned $1.83 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be given a $0.665 dividend. The ex-dividend date is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 3.5%. CVS Health’s dividend payout ratio is presently 74.30%.

Insider Activity

In other news, Director Anne A. Finucane sold 7,500 shares of the business’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 transaction, the director directly owned 22,156 shares in the company, valued at $1,573,519.12. The trade was a 25.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CVS has been the subject of several research reports. Morgan Stanley raised their target price on CVS Health from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Cantor Fitzgerald restated an “overweight” rating and set a $78.00 price objective on shares of CVS Health in a research report on Tuesday, August 26th. Baird R W upgraded shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. Cowen restated a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Finally, Bernstein Bank dropped their price target on CVS Health from $78.00 to $72.00 and set a “market perform” rating on the stock in a report on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, CVS Health presently has a consensus rating of “Moderate Buy” and an average price target of $78.25.

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.