Pzena Investment Management LLC Sells 935,521 Shares of CVS Health Corporation $CVS

Pzena Investment Management LLC reduced its holdings in shares of CVS Health Corporation (NYSE:CVS) by 5.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,746,853 shares of the pharmacy operator’s stock after selling 935,521 shares during the period. CVS Health comprises about 3.8% of Pzena Investment Management LLC’s investment portfolio, making the stock its 5th biggest position. Pzena Investment Management LLC owned 1.32% of CVS Health worth $1,155,198,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. raised its holdings in shares of CVS Health by 10.9% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,682 shares of the pharmacy operator’s stock valued at $117,000 after purchasing an additional 165 shares during the period. Essex Financial Services Inc. raised its holdings in shares of CVS Health by 0.8% in the 1st quarter. Essex Financial Services Inc. now owns 20,705 shares of the pharmacy operator’s stock valued at $1,403,000 after purchasing an additional 166 shares during the period. Williams Financial LLC raised its holdings in shares of CVS Health by 2.5% in the 2nd quarter. Williams Financial LLC now owns 6,923 shares of the pharmacy operator’s stock valued at $478,000 after purchasing an additional 167 shares during the period. Hemington Wealth Management raised its holdings in shares of CVS Health by 33.7% in the 1st quarter. Hemington Wealth Management now owns 682 shares of the pharmacy operator’s stock valued at $46,000 after purchasing an additional 172 shares during the period. Finally, Sumitomo Life Insurance Co. raised its holdings in shares of CVS Health by 1.0% in the 1st quarter. Sumitomo Life Insurance Co. now owns 17,114 shares of the pharmacy operator’s stock valued at $1,159,000 after purchasing an additional 174 shares during the period. 80.66% of the stock is owned by institutional investors.

CVS Health Stock Performance

Shares of NYSE:CVS opened at $77.89 on Monday. The company’s 50 day moving average price is $72.28 and its two-hundred day moving average price is $67.67. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $79.20. The firm has a market cap of $98.79 billion, a PE ratio of 21.76, a PEG ratio of 0.86 and a beta of 0.60. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74.

CVS Health (NYSE:CVS) last announced its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $94.87 billion. During the same quarter in the prior year, the business posted $1.83 EPS. The business’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 predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 23rd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Thursday, October 23rd. CVS Health’s dividend payout ratio is presently 74.30%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Cowen reaffirmed a “buy” rating on shares of CVS Health in a report on Monday, August 4th. Baird R W raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 14th. 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 report on Thursday, September 4th. Wolfe Research increased their price target on shares of CVS Health from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, 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 report on Monday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.80.

Insider Activity

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction that occurred 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 transaction, the director owned 22,156 shares in the company, valued at $1,573,519.12. This represents a 25.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.22% of the stock is currently owned by insiders.

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.