CVS Health Co. (NYSE:CVS) Shares Sold by Parthenon LLC

Parthenon LLC reduced its position in shares of CVS Health Co. (NYSE:CVS) by 0.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 160,638 shares of the pharmacy operator’s stock after selling 1,170 shares during the period. CVS Health comprises about 1.8% of Parthenon LLC’s holdings, making the stock its 19th largest position. Parthenon LLC’s holdings in CVS Health were worth $12,684,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC lifted its stake in CVS Health by 29.1% in the third quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock valued at $1,919,159,000 after buying an additional 6,194,441 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of CVS Health by 8,697.2% during the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock worth $104,395,000 after acquiring an additional 1,307,100 shares during the period. Canada Pension Plan Investment Board raised its holdings in CVS Health by 49.9% during the third quarter. Canada Pension Plan Investment Board now owns 2,095,978 shares of the pharmacy operator’s stock worth $146,341,000 after purchasing an additional 698,054 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of CVS Health by 12.6% in the fourth quarter. Pacer Advisors Inc. now owns 5,513,230 shares of the pharmacy operator’s stock valued at $435,325,000 after buying an additional 616,785 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of CVS Health during the 3rd quarter worth $34,379,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Activity at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the transaction, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVS. Leerink Partnrs restated an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. Cantor Fitzgerald restated an “overweight” rating and set a $87.00 target price on shares of CVS Health in a research report on Wednesday, April 10th. SVB Leerink initiated coverage on shares of CVS Health in a research note on Monday, February 26th. They set an “outperform” rating and a $88.00 price objective for the company. Piper Sandler upped their target price on CVS Health from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Finally, Barclays started coverage on CVS Health in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $78.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

CVS Health Trading Up 0.4 %

Shares of NYSE:CVS traded up $0.28 during trading on Tuesday, reaching $67.73. 13,476,347 shares of the stock were exchanged, compared to its average volume of 10,639,692. CVS Health Co. has a 12-month low of $64.41 and a 12-month high of $83.25. The firm’s 50-day moving average price is $74.05 and its 200 day moving average price is $73.62. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. The firm has a market cap of $85.37 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.11. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company had revenue of $93.81 billion during the quarter, compared to analyst estimates of $90.58 billion. During the same quarter in the prior year, the business earned $1.99 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts anticipate that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be given a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is 41.18%.

CVS Health Profile

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.