Principle Wealth Partners LLC Decreases Holdings in CVS Health Co. (NYSE:CVS)

Principle Wealth Partners LLC lessened its position in shares of CVS Health Co. (NYSE:CVS) by 7.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,096 shares of the pharmacy operator’s stock after selling 1,674 shares during the period. Principle Wealth Partners LLC’s holdings in CVS Health were worth $992,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bristlecone Advisors LLC raised its holdings in CVS Health by 4.3% during the 4th quarter. Bristlecone Advisors LLC now owns 10,788 shares of the pharmacy operator’s stock valued at $484,000 after acquiring an additional 448 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of CVS Health during the 4th quarter valued at $111,000. Robinson Value Management Ltd. lifted its holdings in CVS Health by 8.3% during the 4th quarter. Robinson Value Management Ltd. now owns 33,083 shares of the pharmacy operator’s stock worth $1,485,000 after purchasing an additional 2,531 shares in the last quarter. Stoneridge Investment Partners LLC grew its holdings in CVS Health by 275.1% during the 4th quarter. Stoneridge Investment Partners LLC now owns 207,651 shares of the pharmacy operator’s stock valued at $9,321,000 after buying an additional 152,296 shares in the last quarter. Finally, Thompson Investment Management Inc. increased its position in shares of CVS Health by 7.8% during the fourth quarter. Thompson Investment Management Inc. now owns 145,783 shares of the pharmacy operator’s stock valued at $6,544,000 after buying an additional 10,534 shares during the period. Institutional investors own 80.66% of the company’s stock.

Wall Street Analyst Weigh In

CVS has been the subject of several recent analyst reports. Mizuho reduced their price objective on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada decreased their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. TD Cowen raised their price target on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Evercore ISI upped their price objective on shares of CVS Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.12.

CVS Health Stock Performance

NYSE CVS opened at $54.24 on Tuesday. The company has a 50-day simple moving average of $50.79 and a two-hundred day simple moving average of $55.98. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. CVS Health Co. has a 12-month low of $43.56 and a 12-month high of $80.75. The firm has a market cap of $68.26 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.60 and a beta of 0.61.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 23rd were issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 4.90%. The ex-dividend date was Thursday, January 23rd. CVS Health’s dividend payout ratio is 67.51%.

CVS Health 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.