KKM Financial LLC Has $1.10 Million Stock Position in CVS Health Co. (NYSE:CVS)

KKM Financial LLC lowered its position in shares of CVS Health Co. (NYSE:CVS) by 9.4% during the fourth quarter, Holdings Channel reports. The fund 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whitebox Advisors LLC acquired a new stake in shares of CVS Health in the fourth quarter worth $249,000. Principal Financial Group Inc. boosted its position in CVS Health by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,434,476 shares of the pharmacy operator’s stock worth $90,200,000 after acquiring an additional 66,244 shares during the period. Hall Laurie J Trustee increased its holdings in shares of CVS Health by 25,484.4% in the 4th quarter. Hall Laurie J Trustee now owns 11,513 shares of the pharmacy operator’s stock valued at $517,000 after purchasing an additional 11,468 shares during the period. B&D White Capital Company LLC purchased a new stake in shares of CVS Health in the fourth quarter worth approximately $417,000. Finally, Watts Gwilliam & Co. LLC boosted its holdings in shares of CVS Health by 9.8% during the fourth quarter. Watts Gwilliam & Co. LLC now owns 7,302 shares of the pharmacy operator’s stock worth $334,000 after purchasing an additional 650 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of CVS Health from $74.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $55.00 to $75.00 in a research report on Thursday, February 13th. Wolfe Research upped their target price on CVS Health from 67.00 to 70.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Leerink Partnrs raised CVS Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Finally, Robert W. Baird raised 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. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.81.

CVS Health Stock Down 1.3 %

CVS stock opened at $66.98 on Friday. The stock has a market capitalization 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 50-day moving average of $66.96 and a two-hundred day moving average of $59.04. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $72.51. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

CVS Health (NYSE:CVS) last released its earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. During the same quarter last year, the firm posted $1.31 EPS. The company’s revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts anticipate that CVS Health Co. will post 5.89 EPS for the current year.

CVS Health Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Michael F. Mahoney bought 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $66.70 per share, with a total value of $2,001,000.00. Following the completion of the transaction, the director now directly owns 39,356 shares in the company, valued at $2,625,045.20. This represents a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of 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 disclosure for this sale can be found here. Company insiders own 1.22% of the company’s stock.

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.