Assetmark Inc. Grows Stock Holdings in CVS Health Co. (NYSE:CVS)

Assetmark Inc. boosted its stake in shares of CVS Health Co. (NYSE:CVS - Free Report) by 9.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 410,001 shares of the pharmacy operator's stock after buying an additional 36,132 shares during the quarter. Assetmark Inc.'s holdings in CVS Health were worth $25,781,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Pzena Investment Management LLC grew its stake in CVS Health by 132.9% in the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator's stock worth $764,023,000 after purchasing an additional 7,382,931 shares in the last quarter. Capital International Investors increased its stake in shares of CVS Health by 12.5% during the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator's stock valued at $3,024,334,000 after buying an additional 4,226,225 shares during the period. Capital World Investors raised its holdings in shares of CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator's stock valued at $3,491,643,000 after acquiring an additional 3,232,172 shares in the last quarter. Pathway Financial Advisers LLC lifted its stake in CVS Health by 5,864.2% in the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator's stock worth $108,804,000 after acquiring an additional 1,701,331 shares during the period. Finally, State of Michigan Retirement System grew its holdings in CVS Health by 402.5% during the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator's stock worth $118,455,000 after acquiring an additional 1,606,500 shares in the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of NYSE:CVS traded down $1.53 during trading on Friday, reaching $55.54. 13,650,265 shares of the company's stock traded hands, compared to its average volume of 14,066,798. The company has a quick ratio of 0.66, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. CVS Health Co. has a fifty-two week low of $52.77 and a fifty-two week high of $83.25. The company has a 50-day simple moving average of $59.56 and a 200-day simple moving average of $59.12. The firm has a market cap of $69.89 billion, a PE ratio of 14.10, a P/E/G ratio of 0.88 and a beta of 0.55.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.21 EPS. As a group, analysts predict that CVS Health Co. will post 5.63 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.79%. CVS Health's dividend payout ratio is currently 67.51%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CVS. Mizuho lowered their price target on shares of CVS Health from $73.00 to $66.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. TD Cowen raised CVS Health from a "hold" rating to a "buy" rating and increased their target price for the company from $59.00 to $85.00 in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft cut their price target on CVS Health from $64.00 to $63.00 and set a "hold" rating on the stock in a report on Friday, August 9th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company reduced their target price on shares of CVS Health from $61.00 to $60.00 and set an "equal weight" rating for the company in a report on Monday, November 4th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, CVS Health has an average rating of "Moderate Buy" and a consensus price target of $73.00.

About CVS Health

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.