ARGA Investment Management LP Raises Position in CVS Health Co. (NYSE:CVS)

ARGA Investment Management LP boosted its position in CVS Health Co. (NYSE:CVS) by 7,567.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,402,901 shares of the pharmacy operator’s stock after purchasing an additional 2,371,563 shares during the period. CVS Health comprises approximately 3.5% of ARGA Investment Management LP’s portfolio, making the stock its 11th biggest holding. ARGA Investment Management LP owned 0.19% of CVS Health worth $107,866,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CVS. Sound Income Strategies LLC boosted its stake in CVS Health by 7.2% during the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after purchasing an additional 162 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of CVS Health by 3.5% during the third quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after purchasing an additional 178 shares in the last quarter. Bruce G. Allen Investments LLC boosted its position in shares of CVS Health by 13.1% during the third quarter. Bruce G. Allen Investments LLC now owns 1,681 shares of the pharmacy operator’s stock valued at $106,000 after buying an additional 195 shares during the last quarter. Integrated Advisors Network LLC raised its position in CVS Health by 0.7% in the 3rd quarter. Integrated Advisors Network LLC now owns 27,625 shares of the pharmacy operator’s stock worth $1,737,000 after buying an additional 200 shares during the last quarter. Finally, Widmann Financial Services Inc. lifted its stake in CVS Health by 1.8% during the 3rd quarter. Widmann Financial Services Inc. now owns 11,506 shares of the pharmacy operator’s stock valued at $724,000 after acquiring an additional 200 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVS has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their price target on shares of CVS Health from $68.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Edward Jones raised shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Barclays lowered their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. UBS Group lifted their price objective on CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company raised CVS Health from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $60.00 to $66.00 in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus target price of $68.12.

CVS Health Price Performance

NYSE:CVS opened at $56.39 on Wednesday. The stock has a market cap of $70.96 billion, a PE ratio of 14.31, a P/E/G ratio of 0.62 and a beta of 0.61. 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’s 50-day simple moving average is $51.16 and its two-hundred day simple moving average is $56.09. CVS Health Co. has a 52 week low of $43.56 and a 52 week high of $80.75.

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 company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.21 EPS. As a group, analysts forecast that CVS Health Co. will post 5.14 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 23rd were given a dividend of $0.665 per share. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.72%. CVS Health’s dividend payout ratio is 67.51%.

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.