Parthenon LLC Cuts Stake in CVS Health Co. (NYSE:CVS)

Parthenon LLC decreased its position in CVS Health Co. (NYSE:CVS) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 148,461 shares of the pharmacy operator’s stock after selling 3,226 shares during the period. CVS Health comprises 1.1% of Parthenon LLC’s portfolio, making the stock its 27th largest holding. Parthenon LLC’s holdings in CVS Health were worth $9,335,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CVS. Livelsberger Financial Advisory acquired a new position in CVS Health during the 3rd quarter worth approximately $31,000. Crewe Advisors LLC purchased a new stake in shares of CVS Health in the first quarter valued at approximately $40,000. Reston Wealth Management LLC acquired a new position in CVS Health during the third quarter worth $32,000. Kathleen S. Wright Associates Inc. purchased a new position in CVS Health in the third quarter worth $33,000. Finally, First Community Trust NA boosted its position in shares of CVS Health by 116.2% during the 2nd quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CVS shares. Evercore ISI increased their price target on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Mizuho dropped their target price on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. UBS Group boosted their price target on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price objective on shares of CVS Health in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $68.00 target price on shares of CVS Health in a research report on Wednesday, September 4th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and an average price target of $73.00.

CVS Health Trading Up 0.9 %

Shares of CVS traded up $0.46 on Wednesday, hitting $54.49. 1,211,082 shares of the stock traded hands, compared to its average volume of 11,298,077. CVS Health Co. has a 1 year low of $52.77 and a 1 year high of $83.25. The stock’s 50 day moving average is $59.47 and its two-hundred day moving average is $58.88. The firm has a market capitalization of $68.57 billion, a P/E ratio of 13.72, a P/E/G ratio of 0.97 and a beta of 0.55. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.21 EPS. As a group, sell-side analysts predict that CVS Health Co. will post 5.44 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. The ex-dividend date was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.88%. CVS Health’s payout ratio is currently 67.51%.

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.