Amundi Sells 2,295,578 Shares of CVS Health Corporation $CVS

Key Points

• Amundi has decreased its stake in CVS Health Corporation by 32.5%, selling 2,295,578 shares and now holds approximately 4.76 million shares valued at $321.78 million.
• CVS Health exceeded earnings expectations with a reported EPS of $1.81 and revenue of $98.92 billion for the last quarter, which marks an 8.4% year-over-year increase.
• The company announced a quarterly dividend of $0.665 per share, representing a 3.6% dividend yield with a payout ratio of 74.30%.

Amundi lowered its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 32.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,764,337 shares of the pharmacy operator's stock after selling 2,295,578 shares during the period. Amundi owned about 0.38% of CVS Health worth $321,778,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Jennison Associates LLC raised its stake in shares of CVS Health by 503.8% during the first quarter. Jennison Associates LLC now owns 1,896,341 shares of the pharmacy operator's stock valued at $128,477,000 after acquiring an additional 1,582,257 shares during the last quarter. Cerity Partners LLC raised its stake in CVS Health by 25.0% during the first quarter. Cerity Partners LLC now owns 648,266 shares of the pharmacy operator's stock worth $43,920,000 after buying an additional 129,535 shares during the last quarter. Bank of New York Mellon Corp raised its stake in CVS Health by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 8,981,262 shares of the pharmacy operator's stock worth $608,481,000 after buying an additional 183,813 shares during the last quarter. Fairfax Financial Holdings Ltd. Can bought a new position in CVS Health during the fourth quarter worth $121,742,000. Finally, Brandywine Global Investment Management LLC raised its stake in CVS Health by 20.1% during the first quarter. Brandywine Global Investment Management LLC now owns 3,421,519 shares of the pharmacy operator's stock worth $231,808,000 after buying an additional 572,533 shares during the last quarter. Institutional investors own 80.66% of the company's stock.

CVS Health Trading Down 1.0%

CVS opened at $73.34 on Thursday. The company has a market cap of $93.01 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 0.81 and a beta of 0.62. The company has a fifty day moving average price of $66.39 and a two-hundred day moving average price of $65.89. CVS Health Corporation has a 1-year low of $43.56 and a 1-year high of $74.53. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74.

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

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a dividend yield of 3.6%. CVS Health's payout ratio is presently 74.30%.

Wall Street Analyst Weigh In

CVS has been the subject of a number of analyst reports. Truist Financial lifted their target price on shares of CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. UBS Group raised shares of CVS Health from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $67.00 to $79.00 in a research note on Monday, August 18th. Baird R W raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Morgan Stanley lifted their target price on shares of CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Finally, Barclays lifted their target price on shares of CVS Health from $79.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $77.56.

Insider Activity at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the sale, the director directly owned 22,156 shares of the company's stock, valued at $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.

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