CVS Health Corporation (NYSE:CVS) Shares Sold by Integrated Investment Consultants LLC

Key Points

• Integrated Investment Consultants LLC sold 67.6% of its shares in CVS Health Corporation, decreasing its holdings to 5,236 shares worth $355,000.
• Several hedge funds have modified their stakes in CVS, with McIlrath & Eck LLC increasing holdings by 32.6% and Strategic Investment Solutions Inc. IL boosting theirs by 77.2% during the fourth quarter.
• CVS Health reported earnings of $2.25 per share, exceeding estimates, along with a revenue of $94.59 billion, marking a 7.0% increase from the previous year.

Integrated Investment Consultants LLC cut its position in CVS Health Corporation (NYSE:CVS - Free Report) by 67.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,236 shares of the pharmacy operator's stock after selling 10,941 shares during the period. Integrated Investment Consultants LLC's holdings in CVS Health were worth $355,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. McIlrath & Eck LLC increased its holdings in shares of CVS Health by 32.6% in the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 174 shares during the period. Park Square Financial Group LLC acquired a new stake in CVS Health during the fourth quarter worth about $43,000. GW&K Investment Management LLC grew its holdings in CVS Health by 39.4% during the first quarter. GW&K Investment Management LLC now owns 637 shares of the pharmacy operator's stock worth $43,000 after acquiring an additional 180 shares during the period. PARK CIRCLE Co grew its holdings in CVS Health by 42.9% during the fourth quarter. PARK CIRCLE Co now owns 1,000 shares of the pharmacy operator's stock worth $45,000 after acquiring an additional 300 shares during the period. Finally, Strategic Investment Solutions Inc. IL grew its holdings in CVS Health by 77.2% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 1,024 shares of the pharmacy operator's stock worth $46,000 after acquiring an additional 446 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CVS Health

In other CVS Health news, Director Guy P. Sansone bought 1,570 shares of the stock in a transaction on Thursday, June 5th. The stock was purchased at an average price of $63.70 per share, with a total value of $100,009.00. Following the acquisition, the director owned 12,007 shares of the company's stock, valued at approximately $764,845.90. The trade was a 15.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.22% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVS. Truist Financial raised their price objective on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a report on Monday, May 12th. Jefferies Financial Group lifted their price objective on CVS Health from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. UBS Group reduced their target price on CVS Health from $71.00 to $67.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 22nd. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, Mizuho boosted their target price on CVS Health from $70.00 to $76.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $74.82.

CVS Health Trading Up 3.3%

Shares of NYSE:CVS opened at $60.67 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 0.82. The stock's 50-day moving average is $64.61 and its 200-day moving average is $63.53. CVS Health Corporation has a 52-week low of $43.56 and a 52-week high of $72.51. The company has a market cap of $76.75 billion, a P/E ratio of 14.48, a P/E/G ratio of 0.87 and a beta of 0.57.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. The firm had revenue of $94.59 billion during the quarter, compared to analysts' expectations of $93.07 billion. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.31 earnings per share. Equities research analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend is Tuesday, July 22nd. CVS Health's dividend payout ratio is 63.48%.

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.

Want to see what other hedge funds are holding CVS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CVS Health Corporation (NYSE:CVS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.