Klingenstein Fields & Co. LP Has $23.39 Million Stock Position in CVS Health Co. (NYSE:CVS)

Klingenstein Fields & Co. LP decreased its holdings in shares of CVS Health Co. (NYSE:CVS) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 296,167 shares of the pharmacy operator’s stock after selling 707 shares during the period. Klingenstein Fields & Co. LP’s holdings in CVS Health were worth $23,385,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Live Oak Investment Partners acquired a new position in shares of CVS Health during the 4th quarter worth $25,000. Atticus Wealth Management LLC grew its stake in CVS Health by 149.0% in the 4th quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after buying an additional 219 shares during the last quarter. Cornerstone Planning Group LLC grew its stake in CVS Health by 111.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 461 shares of the pharmacy operator’s stock valued at $32,000 after buying an additional 243 shares during the last quarter. ZRC Wealth Management LLC grew its stake in CVS Health by 400.0% in the 4th quarter. ZRC Wealth Management LLC now owns 500 shares of the pharmacy operator’s stock valued at $39,000 after buying an additional 400 shares during the last quarter. Finally, True Wealth Design LLC acquired a new position in CVS Health in the 4th quarter valued at $48,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Insider Transactions at CVS Health

In other news, EVP Prem S. Shah sold 29,473 shares of CVS Health stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.95, for a total transaction of $2,267,947.35. Following the completion of the sale, the executive vice president now owns 39,765 shares in the company, valued at approximately $3,059,916.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.24% of the stock is owned by corporate insiders.

CVS Health Price Performance

CVS traded up $1.02 during midday trading on Friday, hitting $69.75. The company had a trading volume of 7,809,721 shares, compared to its average volume of 8,823,763. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.86. The company has a market capitalization of $87.92 billion, a PE ratio of 10.80, a P/E/G ratio of 0.92 and a beta of 0.52. CVS Health Co. has a twelve month low of $64.41 and a twelve month high of $83.25. The firm’s 50-day simple moving average is $75.29 and its 200-day simple moving average is $73.74.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.11. The firm had revenue of $93.81 billion during the quarter, compared to analysts’ expectations of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.99 EPS. Equities research analysts predict that CVS Health Co. will post 8.32 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 22nd will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, April 19th. CVS Health’s dividend payout ratio is 41.18%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CVS. Leerink Partnrs reiterated an “outperform” rating on shares of CVS Health in a research note on Monday, February 26th. SVB Leerink initiated coverage on shares of CVS Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $88.00 target price on the stock. StockNews.com downgraded shares of CVS Health from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Wells Fargo & Company reduced their price target on shares of CVS Health from $83.00 to $76.00 and set an “equal weight” rating for the company in a report on Monday, April 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $87.00 price target on shares of CVS Health in a report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.44.

CVS Health Company 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.