Argyle Capital Management Inc. Sells 1,600 Shares of CVS Health Co. (NYSE:CVS)

Argyle Capital Management Inc. reduced its position in CVS Health Co. (NYSE:CVS) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,402 shares of the pharmacy operator’s stock after selling 1,600 shares during the quarter. Argyle Capital Management Inc.’s holdings in CVS Health were worth $2,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Livelsberger Financial Advisory bought a new stake in CVS Health during the third quarter valued at about $31,000. First Community Trust NA grew its position in shares of CVS Health by 116.2% during the second quarter. First Community Trust NA now owns 562 shares of the pharmacy operator’s stock worth $33,000 after purchasing an additional 302 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in CVS Health during the 3rd quarter valued at approximately $33,000. ORG Partners LLC boosted its stake in CVS Health by 11,840.0% in the 2nd quarter. ORG Partners LLC now owns 597 shares of the pharmacy operator’s stock worth $35,000 after purchasing an additional 592 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group grew its holdings in CVS Health by 71.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 595 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 247 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors.

CVS Health Trading Down 0.1 %

CVS traded down $0.03 during trading hours on Tuesday, reaching $57.33. 1,263,577 shares of the company’s stock traded hands, compared to its average volume of 11,166,225. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. The firm has a 50-day moving average price of $59.79 and a 200 day moving average price of $59.76. CVS Health Co. has a 52-week low of $52.77 and a 52-week high of $83.25. The firm has a market capitalization of $71.97 billion, a PE ratio of 10.08, a PEG ratio of 0.84 and a beta of 0.54.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The firm had revenue of $91.23 billion during the quarter, compared to analyst estimates of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 earnings per share. As a group, sell-side analysts predict that CVS Health Co. will post 6.41 EPS for the current fiscal year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 21st will be paid a $0.665 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $2.66 annualized dividend and a yield of 4.64%. CVS Health’s dividend payout ratio (DPR) is currently 46.75%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CVS shares. Evercore ISI upped their target price on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of CVS Health in a research report on Tuesday, October 1st. TD Cowen upgraded CVS Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $59.00 to $85.00 in a research report on Friday, October 4th. Mizuho cut their price target on CVS Health from $73.00 to $66.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Barclays lowered their target price on CVS Health from $82.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $74.58.

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.