Cresset Asset Management LLC Sells 152,584 Shares of CVS Health Co. (NYSE:CVS)

Cresset Asset Management LLC lowered its position in CVS Health Co. (NYSE:CVS - Free Report) by 85.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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.

A number of other hedge funds also recently modified their holdings of CVS. Norges Bank bought a new stake in shares of CVS Health in the 4th quarter worth approximately $839,574,000. Capital World Investors lifted its position in shares of CVS Health by 26.6% during the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock worth $2,739,927,000 after buying an additional 12,819,148 shares during the period. Davis Selected Advisers lifted its position in shares of CVS Health by 2,998.1% during the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator's stock worth $511,115,000 after buying an additional 11,018,438 shares during the period. Dodge & Cox lifted its position in shares of CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock worth $3,147,054,000 after buying an additional 7,075,209 shares during the period. Finally, Pzena Investment Management LLC lifted its position in shares of CVS Health by 49.3% during the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock worth $880,319,000 after buying an additional 6,475,271 shares during the period. Institutional investors own 80.66% of the company's stock.

Insider Buying and Selling at CVS Health

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

CVS Health Trading Down 1.3%

NYSE CVS opened at $66.98 on Monday. The stock has a 50-day simple moving average of $66.96 and a 200 day simple moving average of $59.06. The company has a market capitalization of $84.73 billion, a PE ratio of 18.30, a P/E/G ratio of 0.98 and a beta of 0.60. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. The business had revenue of $94.59 billion during 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 revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.31 earnings per share. Research analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd were paid a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 3.97%. CVS Health's payout ratio is 63.48%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wells Fargo & Company restated an "overweight" rating and set a $84.00 target price (up previously from $76.00) on shares of CVS Health in a research report on Tuesday, May 6th. Mizuho lifted their price objective on CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Royal Bank of Canada lifted their price objective on CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Edward Jones upgraded CVS Health from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Finally, Evercore ISI lifted their price objective on CVS Health from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CVS Health currently has an average rating of "Moderate Buy" and an average target price of $74.81.

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.

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