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

KCM Investment Advisors LLC decreased its holdings in CVS Health Co. (NYSE:CVS) by 6.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,233 shares of the pharmacy operator’s stock after selling 1,409 shares during the quarter. KCM Investment Advisors LLC’s holdings in CVS Health were worth $1,209,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Spirepoint Private Client LLC purchased a new stake in CVS Health during the 1st quarter valued at $225,000. TIAA Trust National Association lifted its holdings in CVS Health by 0.9% in the first quarter. TIAA Trust National Association now owns 40,844 shares of the pharmacy operator’s stock valued at $3,258,000 after acquiring an additional 369 shares during the period. Catalytic Wealth RIA LLC boosted its position in CVS Health by 13.0% in the first quarter. Catalytic Wealth RIA LLC now owns 17,534 shares of the pharmacy operator’s stock worth $1,399,000 after purchasing an additional 2,022 shares during the last quarter. Resurgent Financial Advisors LLC increased its position in shares of CVS Health by 45.3% during the 1st quarter. Resurgent Financial Advisors LLC now owns 4,339 shares of the pharmacy operator’s stock valued at $346,000 after purchasing an additional 1,352 shares during the last quarter. Finally, Davis R M Inc. lifted its stake in shares of CVS Health by 8.7% in the 1st quarter. Davis R M Inc. now owns 3,010 shares of the pharmacy operator’s stock worth $240,000 after purchasing an additional 242 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.

CVS Health Price Performance

CVS opened at $53.19 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The business has a fifty day moving average of $59.23 and a 200 day moving average of $58.72. CVS Health Co. has a 52-week low of $52.71 and a 52-week high of $83.25. The stock has a market cap of $66.93 billion, a P/E ratio of 13.50, a PEG ratio of 0.93 and a beta of 0.55.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.21 earnings per share. As a group, sell-side analysts anticipate that CVS Health Co. will post 5.48 EPS for the current year.

CVS Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is presently 67.51%.

Wall Street Analysts Forecast Growth

CVS has been the topic of several recent research reports. Mizuho decreased their price target on shares of CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Cantor Fitzgerald reiterated a “neutral” rating and set a $62.00 target price on shares of CVS Health in a research report on Tuesday, October 1st. UBS Group upped their price target on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. StockNews.com cut CVS Health from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Barclays reduced their target price on shares of CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.44.

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.