Groupama Asset Managment Decreases Holdings in CVS Health Corporation $CVS

Key Points

• Groupama Asset Management has significantly reduced its holdings in CVS Health Corporation, cutting its stake by 85.4% to just 8,722 shares, valued at approximately $586,000.
• Several large investors, including Vanguard Group and Invesco Ltd., have increased their positions in CVS Health, indicating ongoing institutional interest despite Groupama's exit.
• CVS Health recently reported stronger-than-expected earnings, with a net revenue of $98.92 billion for the quarter, surpassing analysts' estimates.

Groupama Asset Managment cut its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 85.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,722 shares of the pharmacy operator's stock after selling 50,975 shares during the quarter. Groupama Asset Managment's holdings in CVS Health were worth $586,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of CVS Health by 0.8% during the first quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator's stock worth $8,017,223,000 after acquiring an additional 969,027 shares in the last quarter. Invesco Ltd. increased its holdings in shares of CVS Health by 13.2% in the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator's stock worth $1,383,039,000 after buying an additional 2,375,764 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of CVS Health by 5.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator's stock worth $924,643,000 after buying an additional 728,924 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of CVS Health by 14.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,366,403 shares of the pharmacy operator's stock worth $600,019,000 after buying an additional 1,660,321 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of CVS Health by 0.5% in the first quarter. Northern Trust Corp now owns 12,555,958 shares of the pharmacy operator's stock worth $850,666,000 after buying an additional 64,002 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CVS Health

In other news, Director Guy P. Sansone bought 1,570 shares of CVS Health stock in a transaction on Thursday, June 5th. The shares were purchased at an average price of $63.70 per share, for a total transaction of $100,009.00. Following the acquisition, the director owned 12,007 shares of the company's stock, valued at approximately $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.22% of the company's stock.

CVS Health Stock Down 0.1%

Shares of NYSE:CVS opened at $70.9160 on Thursday. CVS Health Corporation has a 1 year low of $43.56 and a 1 year high of $72.51. The company has a market cap of $89.94 billion, a PE ratio of 19.81, a P/E/G ratio of 0.78 and a beta of 0.58. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.80 and a quick ratio of 0.62. The stock's 50-day moving average is $65.33 and its 200 day moving average is $64.90.

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

CVS Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were issued 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 dividend yield of 3.8%. CVS Health's dividend payout ratio is 74.30%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CVS. Bernstein Bank decreased their price objective on CVS Health from $78.00 to $72.00 and set a "market perform" rating on the stock in a report on Wednesday, July 16th. UBS Group upgraded CVS Health from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $67.00 to $79.00 in a report on Monday. Barclays lifted their price objective on CVS Health from $79.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Truist Financial lifted their price objective on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Finally, Wall Street Zen upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $76.67.

CVS Health Company 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.

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