Silvercrest Asset Management Group LLC Cuts Holdings in CVS Health Co. (NYSE:CVS)

Silvercrest Asset Management Group LLC decreased its stake in CVS Health Co. (NYSE:CVS - Free Report) by 25.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 913,991 shares of the pharmacy operator's stock after selling 305,699 shares during the period. Silvercrest Asset Management Group LLC owned 0.07% of CVS Health worth $41,029,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dodge & Cox raised its position in shares of CVS Health by 11.2% during the fourth quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock worth $3,147,054,000 after purchasing an additional 7,075,209 shares during the period. Capital World Investors grew its position in CVS Health by 26.6% in the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock valued at $2,739,927,000 after purchasing an additional 12,819,148 shares during the period. Geode Capital Management LLC grew its position in CVS Health by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 27,051,540 shares of the pharmacy operator's stock valued at $1,211,582,000 after purchasing an additional 689,867 shares during the period. Capital International Investors grew its position in CVS Health by 4.8% in the 4th quarter. Capital International Investors now owns 26,666,401 shares of the pharmacy operator's stock valued at $1,196,989,000 after purchasing an additional 1,212,126 shares during the period. Finally, Pzena Investment Management LLC grew its position in CVS Health by 49.3% in the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock valued at $880,319,000 after purchasing an additional 6,475,271 shares during the period. Institutional investors and hedge funds own 80.66% of the company's stock.

CVS Health Trading Up 1.5%

Shares of CVS traded up $0.95 during mid-day trading on Tuesday, reaching $63.73. The company's stock had a trading volume of 7,394,444 shares, compared to its average volume of 11,411,869. The stock has a market cap of $80.62 billion, a PE ratio of 17.41, 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 52 week low of $43.56 and a 52 week high of $72.51. The company's fifty day moving average price is $66.52 and its two-hundred day moving average price is $59.29.

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. The company had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The firm's revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.31 EPS. On average, analysts predict that CVS Health Co. will post 5.89 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.17%. CVS Health's dividend payout ratio is presently 63.48%.

Insider Buying and Selling

In related news, SVP James David Clark sold 7,513 shares of the company's stock in a transaction that occurred 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 in the company, valued at $556,941.90. This represents a 47.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Argus set a $77.00 target price on CVS Health in a report on Tuesday, February 18th. Leerink Partners upgraded CVS Health from a "market perform" rating to an "outperform" rating and raised their target price for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Edward Jones upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Thursday, January 30th. StockNews.com upgraded CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, UBS Group raised their target price on CVS Health from $67.00 to $71.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.