KKM Financial LLC Decreases Stock Holdings in CVS Health Co. (NYSE:CVS)

KKM Financial LLC decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 9.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,494 shares of the pharmacy operator’s stock after selling 2,527 shares during the quarter. KKM Financial LLC’s holdings in CVS Health were worth $1,100,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC boosted its position in shares of CVS Health by 255.7% in the fourth quarter. Ridgewood Investments LLC now owns 626 shares of the pharmacy operator’s stock worth $28,000 after buying an additional 450 shares during the period. Stonebridge Financial Group LLC purchased a new position in CVS Health in the 4th quarter worth approximately $28,000. Hopwood Financial Services Inc. acquired a new stake in CVS Health in the fourth quarter valued at approximately $29,000. Financial Perspectives Inc lifted its position 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 purchasing an additional 466 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. boosted its stake in shares of CVS Health by 112.1% in the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator’s stock valued at $37,000 after purchasing an additional 437 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other CVS Health news, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now directly owns 8,394 shares in the company, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael F. Mahoney acquired 30,000 shares of CVS Health stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, with a total value of $2,001,000.00. Following the transaction, the director now owns 39,356 shares in the company, valued at approximately $2,625,045.20. This represents a 320.65 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CVS shares. Robert W. Baird upped their price objective on shares of CVS Health from $51.00 to $71.00 and gave the company a “neutral” rating in a research report on Tuesday, April 15th. Cowen restated a “buy” rating on shares of CVS Health in a research note on Monday, May 5th. Piper Sandler upped their target price on CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. UBS Group raised their price target on shares of CVS Health from $67.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Finally, Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $74.81.

CVS Health Price Performance

NYSE CVS opened at $66.98 on Friday. The company has a 50-day moving average price of $66.96 and a two-hundred day moving average price of $59.04. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $72.51. The stock has a market cap of $84.73 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.63. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. The business had revenue of $94.59 billion during the quarter, compared to analyst estimates of $93.07 billion. During the same period in the prior year, the company posted $1.31 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts forecast that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health’s dividend payout ratio is currently 63.48%.

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.