CVS Health Corporation $CVS Shares Sold by Park National Corp OH

Park National Corp OH cut its holdings in CVS Health Corporation (NYSE:CVS) by 7.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,431 shares of the pharmacy operator’s stock after selling 15,779 shares during the period. Park National Corp OH’s holdings in CVS Health were worth $13,067,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CVS. Goldman Sachs Group Inc. raised its stake in CVS Health by 87.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,927,650 shares of the pharmacy operator’s stock valued at $672,598,000 after buying an additional 4,632,530 shares in the last quarter. Dodge & Cox raised its stake in CVS Health by 4.8% in the first quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator’s stock valued at $4,976,856,000 after buying an additional 3,353,223 shares in the last quarter. Nuveen LLC acquired a new stake in CVS Health in the first quarter valued at $204,421,000. Assenagon Asset Management S.A. raised its stake in CVS Health by 310.8% in the first quarter. Assenagon Asset Management S.A. now owns 3,523,824 shares of the pharmacy operator’s stock valued at $238,739,000 after buying an additional 2,666,029 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of CVS Health by 13.2% during the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator’s stock worth $1,383,039,000 after purchasing an additional 2,375,764 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total value 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 Securities & Exchange Commission, which can be accessed through the SEC website. 1.22% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on CVS. Jefferies Financial Group lifted their target price on CVS Health from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, June 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $78.00 target price on shares of CVS Health in a research report on Tuesday, August 26th. Sanford C. Bernstein lifted their target price on CVS Health from $72.00 to $77.00 and gave the stock a “market perform” rating in a research report on Friday, September 5th. Wall Street Zen cut CVS Health from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Bernstein Bank cut their target price on CVS Health from $78.00 to $72.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.89.

CVS Health Stock Performance

NYSE CVS opened at $75.00 on Friday. 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 Corporation has a 52-week low of $43.56 and a 52-week high of $75.55. The business’s 50-day moving average price is $67.11 and its 200 day moving average price is $66.30. The firm has a market cap of $95.12 billion, a P/E ratio of 20.95, a P/E/G ratio of 0.82 and a beta of 0.62.

CVS Health (NYSE:CVS) last released its quarterly 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 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 analyst estimates of $94.87 billion. During the same quarter last year, the company posted $1.83 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. On average, equities research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.5%. CVS Health’s dividend payout ratio (DPR) is currently 74.30%.

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.