Imprint Wealth LLC Takes $12.24 Million Position in CVS Health Co. (NYSE:CVS)

Imprint Wealth LLC acquired a new stake in CVS Health Co. (NYSE:CVS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 122,437 shares of the pharmacy operator’s stock, valued at approximately $12,244,000.

A number of other large investors also recently modified their holdings of the stock. Moneta Group Investment Advisors LLC lifted its stake in shares of CVS Health by 103,371.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,547,559 shares of the pharmacy operator’s stock valued at $1,448,877,000 after acquiring an additional 15,532,533 shares during the period. Norges Bank acquired a new stake in shares of CVS Health during the 4th quarter worth approximately $1,425,416,000. Capital Research Global Investors acquired a new position in CVS Health in the second quarter valued at approximately $389,723,000. Two Sigma Advisers LP boosted its stake in CVS Health by 696.4% in the first quarter. Two Sigma Advisers LP now owns 5,464,700 shares of the pharmacy operator’s stock valued at $406,082,000 after acquiring an additional 4,778,500 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of CVS Health by 10.9% in the 4th quarter. Morgan Stanley now owns 33,576,388 shares of the pharmacy operator’s stock worth $3,128,984,000 after purchasing an additional 3,311,928 shares during the last quarter. 75.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVS has been the topic of several recent analyst reports. Sanford C. Bernstein reduced their price objective on shares of CVS Health from $93.00 to $80.00 in a research note on Tuesday, October 10th. Royal Bank of Canada lowered their price target on CVS Health from $91.00 to $86.00 and set an “outperform” rating for the company in a report on Thursday, November 2nd. Barclays lowered their target price on CVS Health from $89.00 to $86.00 and set an “overweight” rating for the company in a research note on Thursday, August 3rd. StockNews.com downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Finally, Truist Financial reduced their target price on shares of CVS Health from $103.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, August 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $92.59.

Insiders Place Their Bets

In other CVS Health news, Director Edward J. Ludwig purchased 2,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were bought at an average price of $70.47 per share, for a total transaction of $140,940.00. Following the purchase, the director now owns 20,630 shares in the company, valued at approximately $1,453,796.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

CVS Health Price Performance

NYSE:CVS traded down $0.27 during trading hours on Monday, reaching $68.54. 2,599,059 shares of the company were exchanged, compared to its average volume of 8,685,647. The business has a 50 day moving average of $69.87 and a 200 day moving average of $70.00. CVS Health Co. has a 1-year low of $64.41 and a 1-year high of $104.83. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.86 and a quick ratio of 0.64. The company has a market capitalization of $88.20 billion, a P/E ratio of 10.32, a P/E/G ratio of 1.78 and a beta of 0.58.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 1st. The pharmacy operator reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.08. CVS Health had a return on equity of 15.36% and a net margin of 2.47%. The business had revenue of $89.76 billion during the quarter, compared to the consensus estimate of $88.29 billion. During the same quarter in the previous year, the firm earned $2.09 earnings per share. CVS Health’s revenue for the quarter was up 10.6% compared to the same quarter last year. Research analysts forecast that CVS Health Co. will post 8.59 EPS for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Friday, October 20th were given a dividend of $0.605 per share. The ex-dividend date of this dividend was Thursday, October 19th. This represents a $2.42 annualized dividend and a yield of 3.53%. CVS Health’s dividend payout ratio is currently 36.50%.

About CVS Health

CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.