Principle Wealth Partners LLC Invests $1.39 Million in CVS Health Corp (NYSE:CVS)

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Principle Wealth Partners LLC bought a new position in shares of CVS Health Corp (NYSE:CVS) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 22,089 shares of the pharmacy operator’s stock, valued at approximately $1,393,000.

Several other large investors have also bought and sold shares of CVS. 1 North Wealth Services LLC purchased a new position in CVS Health during the third quarter worth about $29,000. Centaurus Financial Inc. boosted its holdings in CVS Health by 570.8% during the first quarter. Centaurus Financial Inc. now owns 1,630 shares of the pharmacy operator’s stock worth $30,000 after purchasing an additional 1,387 shares during the last quarter. Manchester Financial Inc. purchased a new position in CVS Health during the second quarter worth about $31,000. Hudock Capital Group LLC boosted its holdings in CVS Health by 54.0% during the second quarter. Hudock Capital Group LLC now owns 576 shares of the pharmacy operator’s stock worth $31,000 after purchasing an additional 202 shares during the last quarter. Finally, Executive Wealth Management LLC boosted its holdings in CVS Health by 62.4% during the second quarter. Executive Wealth Management LLC now owns 565 shares of the pharmacy operator’s stock worth $31,000 after purchasing an additional 217 shares during the last quarter. 76.17% of the stock is owned by institutional investors.

CVS has been the topic of several analyst reports. SunTrust Banks boosted their price target on shares of CVS Health to $85.00 and gave the stock a “buy” rating in a report on Thursday. Evercore ISI set a $63.00 target price on shares of CVS Health and gave the company a “buy” rating in a research note on Wednesday, August 7th. Raymond James boosted their target price on shares of CVS Health from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research note on Thursday. Bank of America boosted their target price on shares of CVS Health from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, Deutsche Bank started coverage on shares of CVS Health in a research note on Thursday, September 12th. They issued a “buy” rating and a $91.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $77.59.

Shares of CVS stock traded up $0.69 during trading on Friday, reaching $72.47. 9,079,719 shares of the company’s stock traded hands, compared to its average volume of 6,966,567. The company has a market capitalization of $87.55 billion, a P/E ratio of 10.24, a PEG ratio of 1.46 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.64 and a debt-to-equity ratio of 1.39. The firm’s 50-day moving average is $64.66 and its 200 day moving average is $58.54. CVS Health Corp has a 1 year low of $51.72 and a 1 year high of $82.15.

CVS Health (NYSE:CVS) last announced its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.84 EPS for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.07. The company had revenue of $64.81 billion for the quarter, compared to analysts’ expectations of $62.99 billion. CVS Health had a net margin of 1.91% and a return on equity of 16.15%. CVS Health’s revenue was up 36.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.73 EPS. As a group, sell-side analysts predict that CVS Health Corp will post 6.99 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Thursday, October 24th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Wednesday, October 23rd. CVS Health’s payout ratio is currently 28.25%.

In related news, CFO Eva C. Boratto sold 8,130 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $65.00, for a total transaction of $528,450.00. Following the sale, the chief financial officer now directly owns 55,273 shares in the company, valued at approximately $3,592,745. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Troyen A. Brennan sold 23,604 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $68.00, for a total transaction of $1,605,072.00. Following the sale, the executive vice president now owns 107,921 shares in the company, valued at $7,338,628. The disclosure for this sale can be found here. Insiders have sold a total of 49,437 shares of company stock worth $3,248,811 over the last 90 days. 0.53% of the stock is currently owned by corporate insiders.

About CVS Health

CVS Health Corporation provides health services and plans in the United States. Its Pharmacy Services segment offers pharmacy benefit management solutions, such as plan design and administration, formulary management, retail pharmacy network management, mail order pharmacy, specialty pharmacy and infusion, Medicare Part D, clinical, disease management, and medical spend management services.

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Institutional Ownership by Quarter for CVS Health (NYSE:CVS)

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