Argyle Capital Management Inc. Sells 5,925 Shares of CVS Health Co. (NYSE:CVS)

Argyle Capital Management Inc. trimmed its stake in CVS Health Co. (NYSE:CVS) by 13.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,386 shares of the pharmacy operator’s stock after selling 5,925 shares during the period. Argyle Capital Management Inc.’s holdings in CVS Health were worth $3,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in CVS. SOA Wealth Advisors LLC. raised its stake in shares of CVS Health by 4.9% during the 4th quarter. SOA Wealth Advisors LLC. now owns 2,859 shares of the pharmacy operator’s stock worth $226,000 after acquiring an additional 133 shares in the last quarter. Apella Capital LLC lifted its holdings in shares of CVS Health by 4.2% during the 4th quarter. Apella Capital LLC now owns 3,378 shares of the pharmacy operator’s stock valued at $272,000 after purchasing an additional 136 shares during the last quarter. Prairie Sky Financial Group LLC boosted its position in shares of CVS Health by 4.1% in the 4th quarter. Prairie Sky Financial Group LLC now owns 3,612 shares of the pharmacy operator’s stock worth $285,000 after purchasing an additional 141 shares in the last quarter. WealthShield Partners LLC grew its stake in CVS Health by 3.2% during the 4th quarter. WealthShield Partners LLC now owns 4,498 shares of the pharmacy operator’s stock worth $355,000 after buying an additional 141 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC raised its stake in CVS Health by 9.5% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 1,639 shares of the pharmacy operator’s stock valued at $129,000 after buying an additional 142 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, EVP Prem S. Shah sold 29,473 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.95, for a total value of $2,267,947.35. Following the completion of the transaction, the executive vice president now directly owns 39,765 shares of the company’s stock, valued at $3,059,916.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.24% of the company’s stock.

CVS Health Stock Down 0.2 %

NYSE:CVS traded down $0.15 during midday trading on Friday, reaching $67.18. The company had a trading volume of 6,396,438 shares, compared to its average volume of 8,376,818. The stock’s fifty day simple moving average is $74.42 and its 200-day simple moving average is $73.67. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $84.68 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 0.89 and a beta of 0.52. CVS Health Co. has a 12-month low of $64.41 and a 12-month high of $83.25.

CVS Health (NYSE:CVS) last announced its quarterly earnings data on Wednesday, February 7th. The pharmacy operator reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.11. The business had revenue of $93.81 billion for the quarter, compared to analyst estimates of $90.58 billion. CVS Health had a net margin of 2.33% and a return on equity of 15.25%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the business earned $1.99 EPS. On average, sell-side analysts anticipate that CVS Health Co. will post 8.31 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, April 19th. This represents a $2.66 annualized dividend and a dividend yield of 3.96%. CVS Health’s dividend payout ratio is currently 41.18%.

CVS Health 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.