KCM Investment Advisors LLC Trims Stake in CVS Health Co. (NYSE:CVS)

KCM Investment Advisors LLC decreased its position in shares of CVS Health Co. (NYSE:CVS) by 13.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 16,569 shares of the pharmacy operator’s stock after selling 2,664 shares during the quarter. KCM Investment Advisors LLC’s holdings in CVS Health were worth $744,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ridgewood Investments LLC increased its holdings in shares of CVS Health by 255.7% in the 4th quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock valued at $28,000 after acquiring an additional 450 shares during the period. Stonebridge Financial Group LLC acquired a new position in CVS Health in the fourth quarter valued at $28,000. Hopwood Financial Services Inc. purchased a new stake in shares of CVS Health in the fourth quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of CVS Health during the third quarter worth about $31,000. Finally, Financial Perspectives Inc grew its holdings in shares of CVS Health by 137.5% during the fourth quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator’s stock worth $36,000 after buying an additional 466 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

Shares of NYSE CVS opened at $63.54 on Friday. The company has a 50-day simple moving average of $63.47 and a 200-day simple moving average of $58.01. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The company has a market cap of $80.11 billion, a PE ratio of 17.36, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57. CVS Health Co. has a 12 month low of $43.56 and a 12 month high of $74.85.

CVS Health (NYSE:CVS) last released its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping the consensus estimate 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 anticipate that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 22nd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Tuesday, April 22nd. CVS Health’s dividend payout ratio (DPR) is 72.68%.

Insider Transactions at CVS Health

In related news, SVP James David Clark sold 7,513 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the transaction, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. This trade represents a 47.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael F. Mahoney purchased 30,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were purchased at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the transaction, the director now owns 39,356 shares of the company’s stock, valued at $2,625,045.20. This trade represents a 320.65 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Wells Fargo & Company boosted their price objective on shares of CVS Health from $68.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Piper Sandler lifted their target price on shares of CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, March 21st. Argus set a $77.00 price objective on shares of CVS Health in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. boosted their target price on CVS Health from $80.00 to $81.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.