CVS Health Corporation $CVS Stock Acquired by Argent Capital Management LLC

Key Points

• Argent Capital Management increased its CVS Health position by 50.4% in the third quarter, holding 238,110 shares valued at approximately $20.4 million. Institutional investors collectively own 80.66% of CVS stock.
• Wall Street remains broadly positive: 22 analysts rate CVS a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and an average price target of $107.24.
• CVS reported quarterly EPS of $2.58, beating estimates of $1.87, while revenue rose 7.3% year over year to $106.1 billion. The company also declared a $0.665 quarterly dividend, equivalent to a 3.1% annualized yield.

Argent Capital Management LLC grew its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 50.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 238,110 shares of the pharmacy operator's stock after acquiring an additional 79,822 shares during the period. Argent Capital Management LLC's holdings in CVS Health were worth $20,404,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CVS. Elevation Wealth Partners LLC raised its holdings in CVS Health by 41.8% in the second quarter. Elevation Wealth Partners LLC now owns 356 shares of the pharmacy operator's stock worth $37,000 after purchasing an additional 105 shares in the last quarter. Apella Capital LLC lifted its position in CVS Health by 1.7% during the 2nd quarter. Apella Capital LLC now owns 6,940 shares of the pharmacy operator's stock valued at $724,000 after acquiring an additional 117 shares during the period. Wellington Altus USA Inc. boosted its stake in CVS Health by 13.3% during the second quarter. Wellington Altus USA Inc. now owns 1,025 shares of the pharmacy operator's stock worth $106,000 after acquiring an additional 120 shares in the last quarter. CoreCap Advisors LLC grew its holdings in CVS Health by 4.2% in the second quarter. CoreCap Advisors LLC now owns 3,481 shares of the pharmacy operator's stock worth $360,000 after purchasing an additional 139 shares during the period. Finally, AGP Franklin LLC increased its stake in shares of CVS Health by 1.3% during the first quarter. AGP Franklin LLC now owns 11,563 shares of the pharmacy operator's stock valued at $830,000 after purchasing an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CVS. Mizuho increased their target price on CVS Health from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday, June 8th. Truist Financial upped their price target on CVS Health from $108.00 to $118.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Weiss Ratings raised CVS Health from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada boosted their target price on CVS Health from $107.00 to $113.00 and gave the stock an "outperform" rating in a research report on Thursday, July 9th. Finally, Barclays raised their price target on shares of CVS Health from $106.00 to $108.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Twenty-two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $107.24.

CVS Health Stock Performance

CVS stock traded up $0.46 during trading on Monday, reaching $86.92. The stock had a trading volume of 3,202,111 shares, compared to its average volume of 8,243,991. The firm has a market cap of $111.17 billion, a PE ratio of 22.99, a PEG ratio of 0.84 and a beta of 0.60. The company has a current ratio of 0.87, a quick ratio of 0.66 and a debt-to-equity ratio of 0.74. The stock's 50 day moving average is $94.68 and its two-hundred day moving average is $92.01. CVS Health Corporation has a 52 week low of $69.51 and a 52 week high of $110.68.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.71. CVS Health had a net margin of 1.18% and a return on equity of 13.12%. The firm had revenue of $106.10 billion for the quarter, compared to analysts' expectations of $100.03 billion. During the same quarter in the prior year, the business earned $1.81 EPS. The business's quarterly revenue was up 7.3% on a year-over-year basis. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. As a group, equities analysts anticipate that CVS Health Corporation will post 8.02 earnings per share for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 22nd will be issued a $0.6650 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Thursday, October 22nd. CVS Health's dividend payout ratio (DPR) is currently 70.37%.

About CVS Health

CVS Health Corp. is an integrated health care company that provides pharmacy, insurance and health services primarily in the United States. Its operations are designed to connect consumers, health plans, health care providers and pharmacy services across multiple points of care.

The company's major businesses include CVS Pharmacy retail locations, prescription fulfillment and consumer health products; CVS Caremark, a pharmacy benefit management business; and Aetna, which offers health insurance products and related services for employers, individuals, government programs and other organizations.

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