Assetmark Inc. Sells 23,853 Shares of CVS Health Co. (NYSE:CVS)

Assetmark Inc. lessened its position in CVS Health Co. (NYSE:CVS) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 386,148 shares of the pharmacy operator’s stock after selling 23,853 shares during the period. Assetmark Inc.’s holdings in CVS Health were worth $17,334,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. United Advisor Group LLC acquired a new position in shares of CVS Health in the third quarter valued at approximately $206,000. M&G PLC boosted its holdings in shares of CVS Health by 2.1% in the third quarter. M&G PLC now owns 909,675 shares of the pharmacy operator’s stock valued at $57,310,000 after buying an additional 18,955 shares during the period. Poplar Forest Capital LLC boosted its holdings in shares of CVS Health by 27.1% in the third quarter. Poplar Forest Capital LLC now owns 486,074 shares of the pharmacy operator’s stock valued at $30,564,000 after buying an additional 103,602 shares during the period. WoodTrust Financial Corp acquired a new position in shares of CVS Health in the third quarter valued at approximately $231,000. Finally, Montecito Bank & Trust boosted its holdings in shares of CVS Health by 22.7% in the third quarter. Montecito Bank & Trust now owns 17,190 shares of the pharmacy operator’s stock valued at $1,081,000 after buying an additional 3,178 shares during the period. Institutional investors own 80.66% of the company’s stock.

Insider Activity

In other CVS Health news, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the transaction, the director now owns 39,356 shares in the company, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

CVS has been the subject of several research analyst reports. Truist Financial upped their price target on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Wells Fargo & Company increased their target price on shares of CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Piper Sandler reduced their target price on shares of CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. JPMorgan Chase & Co. increased their target price on shares of CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Finally, UBS Group reduced their target price on shares of CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.83.

CVS Health Price Performance

Shares of CVS opened at $65.17 on Friday. The firm has a market capitalization of $82.16 billion, a PE ratio of 17.80, a PEG ratio of 0.98 and a beta of 0.61. The company’s 50-day moving average is $55.98 and its 200-day moving average is $56.69. CVS Health Co. has a fifty-two week low of $43.56 and a fifty-two week high of $80.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. Equities analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Thursday, January 23rd. CVS Health’s payout ratio is presently 72.68%.

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.