Assetmark Inc. Has $17.33 Million Position in CVS Health Co. (NYSE:CVS)

Assetmark Inc. cut its stake in CVS Health Co. (NYSE:CVS - Free Report) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 386,148 shares of the pharmacy operator's stock after selling 23,853 shares during the quarter. Assetmark Inc.'s holdings in CVS Health were worth $17,334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. J.Safra Asset Management Corp increased its stake in shares of CVS Health by 19,986.7% in the fourth quarter. J.Safra Asset Management Corp now owns 3,013 shares of the pharmacy operator's stock worth $132,000 after acquiring an additional 2,998 shares during the last quarter. Clark Estates Inc. NY increased its position in CVS Health by 19.8% during the fourth quarter. Clark Estates Inc. NY now owns 45,375 shares of the pharmacy operator's stock worth $2,037,000 after buying an additional 7,500 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its position in CVS Health by 29.7% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 102,991 shares of the pharmacy operator's stock worth $4,526,000 after buying an additional 23,581 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in CVS Health by 5.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,918,949 shares of the pharmacy operator's stock worth $579,932,000 after buying an additional 710,281 shares during the last quarter. Finally, State of Michigan Retirement System increased its position in CVS Health by 11.0% during the fourth quarter. State of Michigan Retirement System now owns 3,584,177 shares of the pharmacy operator's stock worth $160,894,000 after buying an additional 354,700 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 owns 8,394 shares in the company, 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 SEC, which is accessible through this link. Also, Director Michael F. Mahoney bought 30,000 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the purchase, the director now directly owns 39,356 shares of the company's stock, valued at $2,625,045.20. The trade was a 320.65 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.24% of the company's stock.

CVS Health Stock Performance

Shares of NYSE CVS traded up $1.09 during mid-day trading on Friday, hitting $66.34. The company had a trading volume of 10,082,148 shares, compared to its average volume of 11,965,158. The firm has a market cap of $83.64 billion, a P/E ratio of 18.12, a PEG ratio of 0.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $80.75. The business's 50-day simple moving average is $56.42 and its 200-day simple moving average is $56.73.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.30. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. As a group, 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 declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 23rd were paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend was Thursday, January 23rd. CVS Health's dividend payout ratio is 72.68%.

Analyst Ratings Changes

Several equities analysts have commented on CVS shares. Edward Jones raised shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. UBS Group lowered their target price on shares of CVS Health from $62.00 to $59.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 11th. Wells Fargo & Company increased their target price on shares of CVS Health from $68.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised their price target on CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Finally, Truist Financial raised their price target on CVS Health from $60.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, CVS Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.83.

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.