Cresset Asset Management LLC Has $1.14 Million Position in CVS Health Co. (NYSE:CVS)

Cresset Asset Management LLC reduced its position in shares of CVS Health Co. (NYSE:CVS) by 85.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 25,430 shares of the pharmacy operator’s stock after selling 152,584 shares during the quarter. Cresset Asset Management LLC’s holdings in CVS Health were worth $1,142,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Whitebox Advisors LLC bought a new stake in CVS Health during the fourth quarter worth about $249,000. Hall Laurie J Trustee raised its holdings in CVS Health by 25,484.4% during the fourth quarter. Hall Laurie J Trustee now owns 11,513 shares of the pharmacy operator’s stock worth $517,000 after acquiring an additional 11,468 shares in the last quarter. B&D White Capital Company LLC bought a new stake in CVS Health during the fourth quarter worth about $417,000. Seizert Capital Partners LLC raised its holdings in CVS Health by 22.8% during the fourth quarter. Seizert Capital Partners LLC now owns 569,527 shares of the pharmacy operator’s stock worth $25,566,000 after acquiring an additional 105,708 shares in the last quarter. Finally, M.E. Allison & CO. Inc. bought a new stake in CVS Health during the fourth quarter worth about $277,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CVS shares. Barclays upped their target price on CVS Health from $73.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Wells Fargo & Company restated an “overweight” rating and issued a $84.00 price objective (up previously from $76.00) on shares of CVS Health in a research note on Tuesday, May 6th. Piper Sandler upped their price objective on CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Robert W. Baird upped their price objective on CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a research note on Tuesday, April 15th. Finally, Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 12th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and an average price target of $74.81.

Insider Buying and Selling

In other CVS Health news, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This trade represents a 47.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael F. Mahoney bought 30,000 shares of CVS Health stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This represents a 320.65% increase in their position. The disclosure for this purchase can be found here. 1.22% of the stock is currently owned by company insiders.

CVS Health Trading Down 1.3%

Shares of NYSE:CVS opened at $66.98 on Monday. The company has a market capitalization of $84.73 billion, a P/E ratio of 18.30, a P/E/G ratio of 0.98 and a beta of 0.60. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $72.51. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The business’s 50 day simple moving average is $66.96 and its 200 day simple moving average is $59.06.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.63. The business had revenue of $94.59 billion for the quarter, compared to the consensus estimate of $93.07 billion. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.31 earnings per share. On average, research analysts anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Tuesday, April 22nd. CVS Health’s dividend payout ratio is currently 63.48%.

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.