CVS Health Corporation $CVS Shares Sold by Value Partners Investments Inc.

Key Points

• Value Partners Investments Inc. reduced its stake in CVS Health by 58.1%, selling 783,833 shares, leaving them with 565,588 shares worth approximately $39 million.
• CVS Health reported earnings of $1.81 per share for the last quarter, surpassing expectations by $0.35, with revenues of $98.92 billion.
• The company's quarterly dividend of $0.665 translates to an annual yield of 3.5%, with a payout ratio of 74.30%.

Value Partners Investments Inc. cut its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 58.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 565,588 shares of the pharmacy operator's stock after selling 783,833 shares during the quarter. CVS Health makes up about 3.1% of Value Partners Investments Inc.'s investment portfolio, making the stock its 18th largest position. Value Partners Investments Inc.'s holdings in CVS Health were worth $39,014,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in CVS. Peak Financial Advisors LLC purchased a new stake in shares of CVS Health during the second quarter valued at about $1,022,000. Roxbury Financial LLC lifted its position in shares of CVS Health by 78.3% during the second quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator's stock valued at $32,000 after buying an additional 202 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of CVS Health by 11.0% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 12,053 shares of the pharmacy operator's stock valued at $832,000 after buying an additional 1,195 shares during the last quarter. Central Pacific Bank Trust Division lifted its position in shares of CVS Health by 1.5% during the second quarter. Central Pacific Bank Trust Division now owns 33,000 shares of the pharmacy operator's stock valued at $2,276,000 after buying an additional 500 shares during the last quarter. Finally, Kera Capital Partners Inc. purchased a new stake in shares of CVS Health during the second quarter valued at about $371,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVS has been the subject of several analyst reports. Bernstein Bank decreased their price target 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. Wall Street Zen lowered shares of CVS Health from a "buy" rating to a "hold" rating in a research report on Saturday. Jefferies Financial Group increased their price target on shares of CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Barclays increased their price target on shares of CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a research report on Thursday, September 4th. Finally, Sanford C. Bernstein increased their price objective on shares of CVS Health from $72.00 to $77.00 and gave the company a "market perform" rating in a research report on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.89.

Insider Transactions at CVS Health

In related 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.22% of the stock is owned by corporate insiders.

CVS Health Stock Performance

Shares of CVS Health stock traded up $0.33 during midday trading on Friday, hitting $75.00. The company had a trading volume of 6,400,711 shares, compared to its average volume of 6,810,735. The stock has a market cap of $95.12 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 0.83 and a beta of 0.62. 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 company has a fifty day simple moving average of $67.11 and a 200 day simple moving average of $66.33. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $75.55.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 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 firm had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. During the same period last year, the firm posted $1.83 EPS. CVS Health'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. As a group, analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were given a dividend of $0.665 per share. The ex-dividend date was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 3.5%. CVS Health's 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.