CVS Health Co. (NYSE:CVS) Shares Sold by Assetmark Inc.

Assetmark Inc. decreased its holdings in CVS Health Co. (NYSE:CVS) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 236,472 shares of the pharmacy operator’s stock after selling 1,407 shares during the quarter. Assetmark Inc.’s holdings in CVS Health were worth $18,672,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of CVS Health during the fourth quarter worth approximately $1,092,040,000. FMR LLC lifted its position in shares of CVS Health by 29.1% during the 3rd quarter. FMR LLC now owns 27,487,238 shares of the pharmacy operator’s stock worth $1,919,159,000 after buying an additional 6,194,441 shares during the period. Clearbridge Investments LLC increased its holdings in CVS Health by 306.6% during the 4th quarter. Clearbridge Investments LLC now owns 3,046,216 shares of the pharmacy operator’s stock valued at $240,529,000 after purchasing an additional 2,297,100 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of CVS Health by 8,697.2% in the fourth quarter. International Assets Investment Management LLC now owns 1,322,129 shares of the pharmacy operator’s stock valued at $104,395,000 after purchasing an additional 1,307,100 shares in the last quarter. Finally, Canoe Financial LP raised its holdings in CVS Health by 95.1% during the 4th quarter. Canoe Financial LP now owns 1,762,629 shares of the pharmacy operator’s stock worth $139,177,000 after purchasing an additional 859,134 shares during the last quarter. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Up 0.3 %

Shares of CVS stock traded up $0.19 during mid-day trading on Wednesday, hitting $57.51. The company’s stock had a trading volume of 1,762,117 shares, compared to its average volume of 11,868,390. The stock has a market cap of $72.20 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 0.55 and a beta of 0.56. CVS Health Co. has a 52-week low of $53.70 and a 52-week high of $83.25. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.61 and a current ratio of 0.81. The business has a 50-day moving average price of $68.33 and a 200 day moving average price of $72.24.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). CVS Health had a return on equity of 13.53% and a net margin of 2.03%. The firm had revenue of $88.44 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the previous year, the business posted $2.20 EPS. CVS Health’s revenue was up 3.7% on a year-over-year basis. Research analysts predict that CVS Health Co. will post 7.02 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 22nd were given a $0.665 dividend. The ex-dividend date of this dividend was Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a yield of 4.63%. CVS Health’s dividend payout ratio is presently 46.75%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler boosted their target price on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. The Goldman Sachs Group reduced their target price on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Cantor Fitzgerald cut CVS Health from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $87.00 to $58.00 in a research report on Wednesday, May 1st. TD Cowen lowered CVS Health from a “buy” rating to a “hold” rating and reduced their price objective for the company from $99.00 to $59.00 in a research note on Tuesday, May 7th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $66.00 target price (down previously from $90.00) on shares of CVS Health in a report on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and an average target price of $76.75.

Insider Activity at CVS Health

In related news, Director Edward J. Ludwig acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the acquisition, the director now directly owns 21,630 shares of the company’s stock, valued at approximately $1,165,424.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is currently owned by insiders.

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.