CVS Health Corporation $CVS Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. has reduced its holdings in CVS Health Corporation by 21.7%, now owning 630,583 shares valued at approximately $42.7 million after selling 174,931 shares.
• CVS Health reported earnings of $1.81 per share for the recent quarter, exceeding analysts' expectations of $1.46, with revenue reaching $98.92 billion, up 8.4% year-over-year.
• The company recently declared a quarterly dividend of $0.665 per share, with a current dividend yield of 3.8% and a payout ratio of 74.30%.

American Century Companies Inc. reduced its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 21.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 630,583 shares of the pharmacy operator's stock after selling 174,931 shares during the period. American Century Companies Inc.'s holdings in CVS Health were worth $42,722,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CVS. State of Tennessee Department of Treasury lifted its position in CVS Health by 4.7% during the fourth quarter. State of Tennessee Department of Treasury now owns 477,251 shares of the pharmacy operator's stock valued at $21,424,000 after purchasing an additional 21,251 shares during the period. Price T Rowe Associates Inc. MD lifted its position in CVS Health by 14.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,366,403 shares of the pharmacy operator's stock valued at $600,019,000 after purchasing an additional 1,660,321 shares during the period. MGO One Seven LLC lifted its position in CVS Health by 4.2% during the fourth quarter. MGO One Seven LLC now owns 21,484 shares of the pharmacy operator's stock valued at $964,000 after purchasing an additional 868 shares during the period. Coppell Advisory Solutions LLC lifted its position in CVS Health by 17.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 1,282 shares of the pharmacy operator's stock valued at $56,000 after purchasing an additional 189 shares during the period. Finally, Syon Capital LLC lifted its position in CVS Health by 3.4% during the fourth quarter. Syon Capital LLC now owns 7,526 shares of the pharmacy operator's stock valued at $338,000 after purchasing an additional 247 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CVS Health

In other CVS Health news, Director Guy P. Sansone acquired 1,570 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was bought at an average price of $63.70 per share, with a total value of $100,009.00. Following the purchase, the director owned 12,007 shares in the company, valued at approximately $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.22% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CVS shares. Baird R W upgraded shares of CVS Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Royal Bank Of Canada upped their price objective on shares of CVS Health from $74.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Bernstein Bank decreased their price objective on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a research report on Wednesday, July 16th. Robert W. Baird upgraded shares of CVS Health from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $71.00 to $82.00 in a research report on Thursday, August 14th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, CVS Health presently has an average rating of "Buy" and an average price target of $77.56.

CVS Health Price Performance

Shares of CVS stock traded up $0.36 on Tuesday, reaching $71.57. 5,332,273 shares of the company were exchanged, compared to its average volume of 8,340,502. The company has a market cap of $90.78 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 0.79 and a beta of 0.58. The business has a 50-day moving average price of $65.66 and a 200 day moving average price of $65.42. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.62 and a current ratio of 0.80. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $94.87 billion. During the same quarter in the prior year, the company earned $1.83 EPS. CVS Health's revenue was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Equities research analysts forecast that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, July 22nd. CVS Health's dividend payout ratio is currently 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.