Parthenon LLC Trims Position in CVS Health Co. (NYSE:CVS)

Parthenon LLC lessened its holdings in shares of CVS Health Co. (NYSE:CVS) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,638 shares of the pharmacy operator’s stock after selling 1,170 shares during the period. CVS Health makes up 1.8% of Parthenon LLC’s holdings, making the stock its 19th biggest position. Parthenon LLC’s holdings in CVS Health were worth $12,684,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Atticus Wealth Management LLC grew its holdings in CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after acquiring an additional 219 shares during the period. Cornerstone Planning Group LLC increased its holdings in shares of CVS Health by 111.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after purchasing an additional 243 shares in the last quarter. ZRC Wealth Management LLC boosted its holdings in CVS Health by 400.0% during the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after buying an additional 400 shares in the last quarter. Coston McIsaac & Partners grew its position in CVS Health by 42.6% during the fourth quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock valued at $42,000 after buying an additional 161 shares during the period. Finally, Tennessee Valley Asset Management Partners purchased a new position in CVS Health in the fourth quarter valued at $50,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Up 0.4 %

CVS stock traded up $0.28 during trading on Tuesday, reaching $67.73. 13,476,347 shares of the stock were exchanged, compared to its average volume of 10,639,692. The firm has a market capitalization of $85.37 billion, a price-to-earnings ratio of 10.48, a P/E/G ratio of 0.89 and a beta of 0.52. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average price of $74.05 and a 200-day moving average price of $73.62. CVS Health Co. has a 1 year low of $64.41 and a 1 year high of $83.25.

CVS Health (NYSE:CVS) last posted its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.11. The company had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.99 earnings per share. On average, research analysts predict that CVS Health Co. will post 8.31 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Friday, April 19th. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

Insider Buying and Selling at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the transaction, the executive vice president now directly owns 39,765 shares in the company, valued at $3,059,916.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

CVS has been the topic of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $87.00 target price on shares of CVS Health in a research report on Wednesday, April 10th. StockNews.com downgraded CVS Health from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Leerink Partnrs reissued an “outperform” rating on shares of CVS Health in a report on Monday, February 26th. SVB Leerink initiated coverage on CVS Health in a research note on Monday, February 26th. They set an “outperform” rating and a $88.00 price objective for the company. Finally, Barclays started coverage on CVS Health in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $78.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, CVS Health has a consensus rating of “Moderate Buy” and a consensus price target of $89.44.

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.