Argyle Capital Management Inc. Increases Stake in CVS Health Corporation (CVS)
Argyle Capital Management Inc. increased its holdings in CVS Health Corporation (NYSE:CVS) by 26.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,485 shares of the pharmacy operator’s stock after purchasing an additional 4,325 shares during the period. Argyle Capital Management Inc.’s holdings in CVS Health Corporation were worth $1,648,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Mercer Capital Advisers Inc. purchased a new stake in shares of CVS Health Corporation in the 1st quarter valued at $118,000. Gemmer Asset Management LLC boosted its stake in shares of CVS Health Corporation by 15.3% in the 2nd quarter. Gemmer Asset Management LLC now owns 1,509 shares of the pharmacy operator’s stock valued at $121,000 after purchasing an additional 200 shares in the last quarter. TB Alternative Assets Ltd. purchased a new stake in shares of CVS Health Corporation in the 2nd quarter valued at $121,000. SRS Capital Advisors Inc. boosted its stake in shares of CVS Health Corporation by 48.2% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,256 shares of the pharmacy operator’s stock valued at $177,000 after purchasing an additional 734 shares in the last quarter. Finally, Nadler Financial Group Inc. purchased a new stake in shares of CVS Health Corporation in the 2nd quarter valued at $202,000. 81.55% of the stock is owned by institutional investors.
In related news, Director Richard J. Swift sold 2,500 shares of CVS Health Corporation stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $79.62, for a total value of $199,050.00. Following the completion of the sale, the director now directly owns 3,258 shares in the company, valued at $259,401.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Larry J. Merlo sold 241,150 shares of CVS Health Corporation stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $83.07, for a total value of $20,032,330.50. Following the completion of the sale, the insider now owns 299,255 shares of the company’s stock, valued at $24,859,112.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 591,328 shares of company stock valued at $47,927,439. Corporate insiders own 0.61% of the company’s stock.
Shares of CVS Health Corporation (NYSE CVS) opened at 83.17 on Monday. The stock has a market capitalization of $84.55 billion, a P/E ratio of 16.57 and a beta of 0.92. CVS Health Corporation has a 52-week low of $69.30 and a 52-week high of $90.85. The stock has a 50 day moving average of $78.92 and a 200-day moving average of $78.97.
CVS Health Corporation (NYSE:CVS) last released its earnings results on Tuesday, August 8th. The pharmacy operator reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.02. CVS Health Corporation had a return on equity of 17.47% and a net margin of 2.93%. The business had revenue of $45.69 billion during the quarter, compared to the consensus estimate of $45.36 billion. During the same period last year, the company earned $1.32 earnings per share. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Analysts predict that CVS Health Corporation will post $5.88 EPS for the current fiscal year.
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A number of brokerages have recently issued reports on CVS. Jefferies Group LLC upped their price objective on shares of CVS Health Corporation from $82.00 to $86.00 and gave the company a “hold” rating in a research note on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of CVS Health Corporation in a research note on Sunday, September 10th. BidaskClub cut shares of CVS Health Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Loop Capital assumed coverage on shares of CVS Health Corporation in a report on Thursday, August 24th. They set a “hold” rating and a $83.00 price target for the company. Finally, Citigroup Inc. lowered their price target on shares of CVS Health Corporation from $88.00 to $87.00 and set a “neutral” rating for the company in a report on Thursday, August 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $90.35.
About CVS Health Corporation
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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