CVS Health Corporation (NYSE:CVS) Holdings Trimmed by Pzena Investment Management LLC

Pzena Investment Management LLC reduced its position in CVS Health Corporation (NYSE:CVS - Free Report) by 9.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,682,374 shares of the pharmacy operator's stock after selling 1,928,205 shares during the period. CVS Health makes up about 4.2% of Pzena Investment Management LLC's holdings, making the stock its 3rd biggest holding. Pzena Investment Management LLC owned approximately 1.40% of CVS Health worth $1,197,981,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McIlrath & Eck LLC lifted its position in shares of CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock worth $32,000 after purchasing an additional 174 shares during the last quarter. Park Square Financial Group LLC bought a new position in CVS Health in the fourth quarter worth about $43,000. PARK CIRCLE Co lifted its holdings in CVS Health by 42.9% in the fourth quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator's stock worth $45,000 after acquiring an additional 300 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its holdings in CVS Health by 77.2% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator's stock worth $46,000 after acquiring an additional 446 shares during the last quarter. Finally, Ball & Co Wealth Management Inc. bought a new position in CVS Health in the fourth quarter worth about $49,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CVS Health

In other news, Director Guy P. Sansone acquired 1,570 shares of the stock in a transaction on Thursday, June 5th. The shares were purchased at an average cost of $63.70 per share, for a total transaction of $100,009.00. Following the transaction, the director owned 12,007 shares in the company, valued at approximately $764,845.90. This trade represents a 15.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.22% of the company's stock.

CVS Health Price Performance

NYSE:CVS traded down $0.46 during midday trading on Thursday, hitting $63.34. 7,351,504 shares of the stock were exchanged, compared to its average volume of 10,754,025. The company has a current ratio of 0.82, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $80.13 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 0.91 and a beta of 0.57. CVS Health Corporation has a one year low of $43.56 and a one year high of $72.51. The business has a 50-day moving average price of $64.89 and a two-hundred day moving average price of $62.63.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.63. The firm had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The firm's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.31 earnings per share. Sell-side analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be given a $0.665 dividend. The ex-dividend date is Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 4.20%. CVS Health's dividend payout ratio (DPR) is 63.48%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CVS. UBS Group raised their target price on shares of CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Piper Sandler raised their target price on shares of CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Royal Bank Of Canada lifted their price target on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $84.00 price target (up previously from $76.00) on shares of CVS Health in a report on Tuesday, May 6th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $75.06.

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.