Principal Financial Group Inc. Raises Holdings in CVS Health Corporation $CVS

Principal Financial Group Inc. raised its holdings in shares of CVS Health Corporation (NYSE:CVS) by 0.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,378,796 shares of the pharmacy operator’s stock after acquiring an additional 10,670 shares during the quarter. Principal Financial Group Inc.’s holdings in CVS Health were worth $103,947,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Avion Wealth increased its holdings in CVS Health by 99.0% during the 2nd quarter. Avion Wealth now owns 380 shares of the pharmacy operator’s stock worth $26,000 after acquiring an additional 189 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of CVS Health by 72.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 339 shares of the pharmacy operator’s stock valued at $26,000 after purchasing an additional 142 shares in the last quarter. Corundum Trust Company INC bought a new position in shares of CVS Health in the third quarter worth $29,000. Harbor Asset Planning Inc. purchased a new stake in shares of CVS Health in the second quarter worth $30,000. Finally, Front Row Advisors LLC boosted its stake in CVS Health by 436.5% during the second quarter. Front Row Advisors LLC now owns 456 shares of the pharmacy operator’s stock valued at $31,000 after buying an additional 371 shares during the period. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Up 1.2%

Shares of NYSE:CVS opened at $75.43 on Tuesday. The stock has a market capitalization of $95.76 billion, a P/E ratio of 198.51, a price-to-earnings-growth ratio of 0.69 and a beta of 0.50. The stock’s 50-day moving average price is $78.85 and its 200-day moving average price is $75.33. The company has a current ratio of 0.83, a quick ratio of 0.63 and a debt-to-equity ratio of 0.83. CVS Health Corporation has a 12-month low of $53.36 and a 12-month high of $85.15.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Thursday, January 22nd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Thursday, January 22nd. CVS Health’s payout ratio is 700.00%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CVS shares. Truist Financial set a $100.00 target price on CVS Health in a research note on Wednesday, December 10th. Bank of America decreased their price objective on shares of CVS Health from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, January 27th. TD Cowen raised their target price on shares of CVS Health from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Leerink Partners boosted their price target on shares of CVS Health from $86.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Finally, Wall Street Zen cut shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Nineteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, CVS Health currently has an average rating of “Moderate Buy” and a consensus price target of $94.82.

About CVS Health

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.