Integrated Wealth Concepts LLC Trims Holdings in CVS Health Corporation $CVS

Key Points

• Integrated Wealth Concepts LLC reduced its holdings in CVS Health Corporation by 18.7%, selling 6,224 shares, and now owns 27,131 shares valued at approximately $1.84 million.
• CVS Health reported a quarterly earnings per share (EPS) of $1.81, exceeding analysts' expectations of $1.46, with revenue of $98.92 billion, up 8.4% from the previous year.
• The company has issued a quarterly dividend of $0.665 per share, representing an annualized yield of 3.7%, and institutional investors now hold 80.66% of the stock.

Integrated Wealth Concepts LLC trimmed its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 18.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,131 shares of the pharmacy operator's stock after selling 6,224 shares during the quarter. Integrated Wealth Concepts LLC's holdings in CVS Health were worth $1,838,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. McIlrath & Eck LLC increased its position in shares of CVS Health by 32.6% during the fourth quarter. McIlrath & Eck LLC now owns 707 shares of the pharmacy operator's stock valued at $32,000 after acquiring an additional 174 shares during the last quarter. Saudi Central Bank purchased a new stake in shares of CVS Health during the first quarter valued at approximately $34,000. Costello Asset Management INC increased its position in shares of CVS Health by 281.3% during the first quarter. Costello Asset Management INC now owns 572 shares of the pharmacy operator's stock valued at $39,000 after acquiring an additional 422 shares during the last quarter. Stone House Investment Management LLC bought a new position in CVS Health during the first quarter valued at $39,000. Finally, Park Square Financial Group LLC bought a new position in CVS Health during the fourth quarter valued at $43,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of CVS stock traded up $0.33 on Friday, reaching $75.00. The company's stock had a trading volume of 6,400,711 shares, compared to its average volume of 6,903,319. The company has a market capitalization of $95.12 billion, a P/E ratio of 20.95, a PEG ratio of 0.82 and a beta of 0.62. CVS Health Corporation has a 12-month low of $43.56 and a 12-month high of $75.55. The stock's 50 day simple moving average is $67.11 and its 200-day simple moving average is $66.32. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.35. The company had revenue of $98.92 billion during the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a return on equity of 10.51% and a net margin of 1.17%.The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, equities analysts predict that CVS Health Corporation will post 5.89 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were paid a dividend of $0.665 per share. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.66 annualized dividend and a yield of 3.5%. CVS Health's dividend payout ratio (DPR) is currently 74.30%.

Insider Transactions at CVS Health

In other CVS Health news, Director Anne A. Finucane sold 7,500 shares of CVS Health stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the sale, the director owned 22,156 shares of the company's stock, valued at $1,573,519.12. The trade was a 25.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on CVS. Sanford C. Bernstein increased their price objective on CVS Health from $72.00 to $77.00 and gave the company a "market perform" rating in a report on Friday, September 5th. UBS Group raised CVS Health from a "neutral" rating to a "buy" rating and increased their price objective for the company from $67.00 to $79.00 in a report on Monday, August 18th. Cantor Fitzgerald reissued an "overweight" rating and set a $78.00 price objective on shares of CVS Health in a report on Tuesday, August 26th. Jefferies Financial Group increased their price objective on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a report on Monday, June 30th. Finally, Cowen reaffirmed a "buy" rating on shares of CVS Health in a report on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $77.89.

About CVS Health

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.