Parthenon LLC Sells 8,614 Shares of CVS Health Corporation $CVS

Key Points

• Parthenon LLC has reduced its stake in CVS Health by 6.1%, selling 8,614 shares and retaining 133,234 shares which represent approximately 1.1% of its holdings.
• CVS Health reported strong earnings with $1.81 earnings per share for the last quarter, exceeding analysts' expectations, and a revenue of $98.92 billion, a 8.4% increase year-over-year.
• The company announced a quarterly dividend of $0.665 per share, representing an annualized yield of 3.2%, with the record date on October 23rd.

Parthenon LLC lowered its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 6.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 133,234 shares of the pharmacy operator's stock after selling 8,614 shares during the period. CVS Health accounts for approximately 1.1% of Parthenon LLC's holdings, making the stock its 27th largest position. Parthenon LLC's holdings in CVS Health were worth $9,190,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in 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 during the last quarter. Dodge & Cox lifted its position in CVS Health by 4.8% during the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator's stock worth $4,976,856,000 after acquiring an additional 3,353,223 shares during the last quarter. Invesco Ltd. raised its position 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 valued at $1,383,039,000 after buying an additional 2,375,764 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of CVS Health by 14.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator's stock valued at $1,037,205,000 after buying an additional 1,942,886 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position 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 valued at $924,643,000 after buying an additional 728,924 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

CVS Health Price Performance

CVS Health stock opened at $82.64 on Friday. The company has a market cap of $104.81 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 0.91 and a beta of 0.60. The company has a current ratio of 0.80, a quick ratio of 0.62 and a debt-to-equity ratio of 0.74. The business's 50 day simple moving average is $74.00 and its 200 day simple moving average is $68.12. CVS Health Corporation has a 12 month low of $43.56 and a 12 month high of $82.88.

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 (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.35. The business had revenue of $98.92 billion for the quarter, compared to analysts' expectations of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.83 EPS. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Sell-side analysts forecast that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.2%. CVS Health's payout ratio is presently 74.30%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CVS. Cantor Fitzgerald reiterated an "overweight" rating and issued a $78.00 price target on shares of CVS Health in a research report on Tuesday, August 26th. Truist Financial set a $92.00 price objective on shares of CVS Health in a research note on Tuesday. Barclays lifted their price objective on shares of CVS Health from $80.00 to $87.00 and gave the company an "overweight" rating in a research note on Thursday, September 4th. Mizuho boosted their target price on shares of CVS Health from $76.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday, October 9th. Finally, Cowen reissued a "buy" rating on shares of CVS Health in a research note on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $82.57.

Insider Buying and Selling at CVS Health

In other news, Director Anne A. Finucane sold 7,500 shares of CVS Health 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 sale, the director owned 22,156 shares of the company's stock, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.22% of the company's stock.

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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