Principle Wealth Partners LLC Has $2.38 Million Stake in CVS Health Co. (NYSE:CVS)

Principle Wealth Partners LLC trimmed its position in CVS Health Co. (NYSE:CVS) by 13.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,197 shares of the pharmacy operator’s stock after selling 4,523 shares during the quarter. Principle Wealth Partners LLC’s holdings in CVS Health were worth $2,384,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Atticus Wealth Management LLC raised its stake in CVS Health by 149.0% during the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock worth $29,000 after acquiring an additional 219 shares in the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of CVS Health by 111.5% during the third quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock worth $32,000 after purchasing an additional 243 shares during the last quarter. ZRC Wealth Management LLC grew its holdings in shares of CVS Health by 400.0% during the fourth quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock worth $39,000 after purchasing an additional 400 shares during the last quarter. Coston McIsaac & Partners grew its holdings in shares of CVS Health by 42.6% during the fourth quarter. Coston McIsaac & Partners now owns 539 shares of the pharmacy operator’s stock worth $42,000 after purchasing an additional 161 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of CVS Health during the fourth quarter worth $50,000. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CVS Health

In other CVS Health news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the sale, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.24% of the company’s stock.

CVS Health Price Performance

CVS Health stock opened at $67.18 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. CVS Health Co. has a 52 week low of $64.41 and a 52 week high of $83.25. The stock has a market capitalization of $84.68 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. The stock has a fifty day moving average of $74.42 and a 200-day moving average of $73.67.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. CVS Health had a return on equity of 15.25% and a net margin of 2.33%. The business had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. During the same quarter in the prior year, the firm earned $1.99 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, sell-side analysts expect that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 22nd will be given a $0.665 dividend. The ex-dividend date is Friday, April 19th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.96%. CVS Health’s dividend payout ratio (DPR) is presently 41.18%.

Wall Street Analysts Forecast Growth

CVS has been the topic of several recent research reports. SVB Leerink began coverage on CVS Health in a report on Monday, February 26th. They issued an “outperform” rating and a $88.00 price target on the stock. Royal Bank of Canada dropped their price target on CVS Health from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Wells Fargo & Company dropped their price target on CVS Health from $83.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Monday, April 8th. Piper Sandler raised their price target on CVS Health from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of CVS Health in a research report on Monday, February 26th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.44.

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.