CVS Health Corporation $CVS Holdings Decreased by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. reduced its stake in shares of CVS Health Corporation (NYSE:CVS) by 0.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,757 shares of the pharmacy operator’s stock after selling 320 shares during the quarter. CVS Health comprises approximately 2.0% of Lorne Steinberg Wealth Management Inc.’s holdings, making the stock its 23rd largest position. Lorne Steinberg Wealth Management Inc.’s holdings in CVS Health were worth $7,571,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. bought a new position in CVS Health during the 2nd quarter worth $30,000. Bell Investment Advisors Inc grew its stake in CVS Health by 119.8% during the 1st quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator’s stock worth $31,000 after buying an additional 248 shares during the last quarter. Roxbury Financial LLC grew its stake in CVS Health by 78.3% during the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 202 shares during the last quarter. ORG Partners LLC grew its stake in CVS Health by 418.9% during the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator’s stock worth $32,000 after buying an additional 377 shares during the last quarter. Finally, Saudi Central Bank bought a new position in CVS Health during the 1st quarter worth $34,000. 80.66% of the stock is currently owned by institutional investors.

CVS Health Trading Up 1.6%

Shares of CVS Health stock opened at $82.64 on Monday. 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 cap of $104.81 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 0.91 and a beta of 0.60. The business has a fifty day simple moving average of $74.00 and a 200-day simple moving average of $68.12. CVS Health Corporation has a fifty-two week low of $43.56 and a fifty-two week high of $82.88.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share for the quarter, beating 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 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 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. On average, equities analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Announces Dividend

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 given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health’s payout ratio is presently 74.30%.

Insiders Place Their Bets

In related news, Director Anne A. Finucane sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was 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 of the company’s stock, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.22% of the company’s stock.

Analysts Set New Price Targets

CVS has been the subject of several recent analyst reports. Wells Fargo & Company increased their price target on CVS Health from $84.00 to $103.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Wall Street Zen raised CVS Health from a “hold” rating to a “buy” rating in a research note on Sunday, September 21st. The Goldman Sachs Group initiated coverage on CVS Health in a research note on Tuesday, October 14th. They issued a “buy” rating and a $91.00 price target for the company. Bernstein Bank decreased their price target on CVS Health from $78.00 to $72.00 and set a “market perform” rating for the company in a research note on Wednesday, July 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $78.00 price target on shares of CVS Health in a research note on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, CVS Health has a consensus rating of “Moderate Buy” and an average price target of $82.57.

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.