CVS Health Corporation (NYSE:CVS) Shares Sold by ARGA Investment Management LP

ARGA Investment Management LP lessened its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,321,242 shares of the pharmacy operator's stock after selling 81,659 shares during the period. CVS Health makes up 5.3% of ARGA Investment Management LP's portfolio, making the stock its 7th biggest position. ARGA Investment Management LP owned about 0.18% of CVS Health worth $157,264,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CVS. Proficio Capital Partners LLC acquired a new stake in shares of CVS Health during the fourth quarter worth approximately $5,544,000. OFI Invest Asset Management acquired a new stake in shares of CVS Health in the fourth quarter valued at approximately $65,000. Sowell Financial Services LLC increased its holdings in shares of CVS Health by 17.4% in the fourth quarter. Sowell Financial Services LLC now owns 38,370 shares of the pharmacy operator's stock valued at $1,722,000 after purchasing an additional 5,689 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in CVS Health by 21.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 318,089 shares of the pharmacy operator's stock valued at $14,279,000 after acquiring an additional 56,895 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in CVS Health by 7.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 165,314 shares of the pharmacy operator's stock valued at $7,421,000 after acquiring an additional 11,955 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Insider Activity at CVS Health

In other CVS Health news, Director Guy P. Sansone purchased 1,570 shares of CVS Health stock in a transaction dated Thursday, June 5th. The stock was purchased at an average price of $63.70 per share, with a total value of $100,009.00. Following the transaction, the director directly owned 12,007 shares of the company's stock, valued at $764,845.90. This trade represents a 15.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.22% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CVS shares. Cowen reissued a "buy" rating on shares of CVS Health in a research report on Monday, May 5th. Mizuho lifted their price target on shares of CVS Health from $70.00 to $76.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. UBS Group lifted their target price on shares of CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Morgan Stanley reaffirmed an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Finally, Wall Street Zen raised shares of CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.06.

CVS Health Stock Down 1.1%

Shares of NYSE CVS opened at $66.68 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77. The firm's fifty day moving average is $65.14 and its 200 day moving average is $61.86. The company has a market cap of $84.35 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 0.97 and a beta of 0.57. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $72.51.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. CVS Health had a net margin of 1.39% and a return on equity of 10.59%. The company had revenue of $94.59 billion for the quarter, compared to analysts' expectations of $93.07 billion. During the same quarter in the previous year, the business posted $1.31 EPS. CVS Health's revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts expect that CVS Health Corporation will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a yield of 3.99%. CVS Health's dividend payout ratio (DPR) is 63.48%.

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.

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