Partners in Financial Planning Invests $265,000 in CVS Health Co. (NYSE:CVS)

Partners in Financial Planning purchased a new stake in CVS Health Co. (NYSE:CVS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,905 shares of the pharmacy operator’s stock, valued at approximately $265,000.

Several other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in CVS Health by 3.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 261,194 shares of the pharmacy operator’s stock valued at $16,424,000 after purchasing an additional 9,418 shares during the period. Arete Wealth Advisors LLC purchased a new position in CVS Health during the third quarter valued at approximately $1,369,000. Caisse DE Depot ET Placement DU Quebec raised its stake in CVS Health by 4.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,082,145 shares of the pharmacy operator’s stock worth $68,045,000 after buying an additional 42,307 shares in the last quarter. Edgestream Partners L.P. boosted its position in CVS Health by 7.4% during the 3rd quarter. Edgestream Partners L.P. now owns 20,734 shares of the pharmacy operator’s stock valued at $1,304,000 after acquiring an additional 1,437 shares in the last quarter. Finally, Cobblestone Capital Advisors LLC NY increased its holdings in shares of CVS Health by 1.5% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 133,848 shares of the pharmacy operator’s stock valued at $8,416,000 after acquiring an additional 1,947 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CVS Health news, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the transaction, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. This represents 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 hyperlink. Also, Director Michael F. Mahoney bought 30,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the transaction, the director now owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by insiders.

CVS Health Stock Performance

Shares of CVS stock opened at $67.13 on Monday. The stock has a market cap of $84.64 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $79.98. The business has a 50-day simple moving average of $62.12 and a 200-day simple moving average of $57.68. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last issued its quarterly earnings data 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%. On average, equities analysts expect that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is presently 72.68%.

Analysts Set New Price Targets

CVS has been the topic of a number of recent research reports. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Argus set a $77.00 price objective on shares of CVS Health in a research report on Tuesday, February 18th. Evercore ISI increased their target price on shares of CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Cantor Fitzgerald raised shares of CVS Health from a “neutral” rating to an “overweight” rating in a report on Wednesday, February 12th. Finally, Edward Jones upgraded CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.39.

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.