Vanguard Amends CVS Health Stake, Remains Passive Investor

TL;DR

**Vanguard still owns a big chunk of CVS, but they're just holding, not trying to run the show.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, indicating its ownership of CVS Health Corp common stock as of December 29, 2023. This filing updates their previous disclosures, confirming their continued significant, but passive, stake in CVS Health. This matters to investors because Vanguard's large, passive holding suggests a long-term belief in CVS's stability and growth potential, without seeking to influence management.

Why It Matters

This filing confirms Vanguard's continued substantial, yet passive, investment in CVS Health, signaling their confidence in the company's long-term prospects without any intent to influence corporate decisions.

Risk Assessment

Risk Level: low — This filing is routine and indicates a passive investment, posing minimal risk to current or prospective shareholders.

Analyst Insight

A smart investor would view this as a routine update from a large institutional investor, confirming a stable, long-term holding in CVS Health without any immediate implications for stock price volatility or corporate governance changes.

Key Players & Entities

• The Vanguard Group (company) — reporting person and major investment firm
• CVS Health Corp (company) — issuer of the common stock
• December 29, 2023 (date) — date of event requiring the filing
• February 13, 2024 (date) — filing date of the SC 13G/A

Forward-Looking Statements

• Vanguard will maintain a significant, passive stake in CVS Health Corp for the foreseeable future. (The Vanguard Group) — high confidence, target: 2025-12-31

FAQ

From the Filing

0001104659-24-020723.txt : 20240213 0001104659-24-020723.hdr.sgml : 20240213 20240213170240 ACCESSION NUMBER: 0001104659-24-020723 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240213 DATE AS OF CHANGE: 20240213 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CVS HEALTH Corp CENTRAL INDEX KEY: 0000064803 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-DRUG STORES AND PROPRIETARY STORES [5912] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 050494040 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-30930 FILM NUMBER: 24627990 BUSINESS ADDRESS: STREET 1: ONE CVS DR. CITY: WOONSOCKET STATE: RI ZIP: 02895 BUSINESS PHONE: 4017651500 MAIL ADDRESS: STREET 1: ONE CVS DR. CITY: WOONSOCKET STATE: RI ZIP: 02895 FORMER COMPANY: FORMER CONFORMED NAME: CVS CAREMARK CORP DATE OF NAME CHANGE: 20070509 FORMER COMPANY: FORMER CONFORMED NAME: CVS/CAREMARK CORP DATE OF NAME CHANGE: 20070322 FORMER COMPANY: FORMER CONFORMED NAME: CVS CORP DATE OF NAME CHANGE: 19970128 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD GROUP INC CENTRAL INDEX KEY: 0000102909 ORGANIZATION NAME: IRS NUMBER: 231945930 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 SC 13G/A 1 tv0723-cvshealthcorp.htm SCHEDULE 13G/A cvshealthcorp SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 (Amendment No.: 9)* Name of issuer:  CVS Health Corp Title of Class of Securities:  Common Stock CUSIP Number:  126650100 Date of Event Which Requires Filing of this Statement: December 29, 2023 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: ☒ Rule 13d-1(b) ☐ Rule 13d-1(c) ☐ Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). (Continued on the following page(s))     13G CUSIP No.:  126650100 1.  NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The Vanguard Group - 23-1945930 2.  CHECK THE APPROPRIATE [LINE] IF A MEMBER OF A GROUP A.  B.  X 3.  SEC USE ONLY 4.  CITIZENSHIP OF PLACE OF ORGANIZATION Pennsylvania (For questions 5-8, report the number of shares beneficially owned by each reporting person with:) 5.  SOLE VOTING POWER 0 6.  SHARED VOTING POWER 1,662,275 7.  SOLE DISPOSITIVE POWER 111,954,367 8.  SHARED DISPOSITIVE POWER 5,726,828 9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 117,681,195 10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES N/A 11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 9.14% 12.  TYPE OF REPORTING PERSON IA     SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Act of 1934 Item 1(a) - Name of Issuer: CVS Health Corp Item 1(b) - Address of Issuer's Principal Executive Offices: One CVS Drive Woonsocket, RI 02895 Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930 Item 2(b) – Address of Principal Business Office o