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

Cresset Asset Management LLC decreased its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 85.7% during the 4th quarter, according to the company in its most recent filing with the SEC. 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 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Stonebridge Financial Group LLC bought a new position in shares of CVS Health during the 4th quarter worth approximately $28,000. Hopwood Financial Services Inc. purchased a new position in CVS Health in the 4th quarter valued at approximately $29,000. Financial Perspectives Inc grew its position in shares of CVS Health by 137.5% during the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after purchasing an additional 466 shares in the last quarter. MidAtlantic Capital Management Inc. grew its position in CVS Health by 112.1% in the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock worth $37,000 after acquiring an additional 437 shares in the last quarter. Finally, Compass Planning Associates Inc purchased a new position in CVS Health in the fourth quarter worth $37,000. Institutional investors own 80.66% of the company's stock.

Insider Buying and Selling

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

CVS Health Stock Up 3.4%

CVS traded up $2.04 during midday trading on Friday, reaching $62.51. The company's stock had a trading volume of 10,777,559 shares, compared to its average volume of 11,442,534. The stock's 50-day moving average is $66.57 and its 200-day moving average is $59.22. CVS Health Co. has a 1 year low of $43.56 and a 1 year high of $72.51. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $79.07 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 0.98 and a beta of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The firm had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. During the same quarter in the prior year, the company posted $1.31 earnings per share. The business's revenue for the quarter was up 7.0% on a year-over-year basis. As a group, research analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.26%. The ex-dividend date was Tuesday, April 22nd. CVS Health's dividend payout ratio is currently 63.48%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CVS. Robert W. Baird upped their price target on shares of CVS Health from $51.00 to $71.00 and gave the company a "neutral" rating in a research report on Tuesday, April 15th. Wolfe Research upped their price objective on shares of CVS Health from 67.00 to 70.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research note on Monday, May 5th. Royal Bank of Canada upped their price objective on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Finally, Truist Financial upped their price objective on shares of CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Three 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $74.94.

CVS Health Company 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.