TD Asset Management Inc Cuts Position in CVS Health Co. (NYSE:CVS)

TD Asset Management Inc lowered its position in shares of CVS Health Co. (NYSE:CVS) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,153,857 shares of the pharmacy operator’s stock after selling 8,269 shares during the period. TD Asset Management Inc owned about 0.09% of CVS Health worth $79,766,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Live Oak Investment Partners purchased a new position in shares of CVS Health in the fourth quarter worth about $25,000. LifePro Asset Management purchased a new position in CVS Health in the 2nd quarter worth approximately $37,000. 25 LLC bought a new stake in CVS Health in the first quarter valued at approximately $39,000. Northwest Capital Management Inc purchased a new stake in shares of CVS Health during the second quarter valued at approximately $44,000. Finally, Glass Jacobson Investment Advisors llc bought a new position in shares of CVS Health in the second quarter worth approximately $48,000. 75.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CVS Health

In other news, Director Edward J. Ludwig bought 2,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were purchased at an average price of $70.47 per share, for a total transaction of $140,940.00. Following the completion of the purchase, the director now owns 20,630 shares in the company, valued at approximately $1,453,796.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

CVS Health Trading Up 1.0 %

NYSE:CVS opened at $68.50 on Wednesday. CVS Health Co. has a one year low of $64.41 and a one year high of $104.83. The company’s 50-day simple moving average is $69.69 and its 200 day simple moving average is $70.08. The firm has a market capitalization of $88.15 billion, a P/E ratio of 10.33, a PEG ratio of 1.77 and a beta of 0.58. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.86 and a quick ratio of 0.64.

CVS Health (NYSE:CVS) last posted its quarterly earnings results on Wednesday, November 1st. The pharmacy operator reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.08. CVS Health had a return on equity of 15.36% and a net margin of 2.47%. The company had revenue of $89.76 billion for the quarter, compared to the consensus estimate of $88.29 billion. During the same quarter in the prior year, the business posted $2.09 EPS. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, analysts forecast that CVS Health Co. will post 8.59 EPS for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Friday, October 20th were given a dividend of $0.605 per share. This represents a $2.42 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend was Thursday, October 19th. CVS Health’s dividend payout ratio (DPR) is 36.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $87.00 price target on shares of CVS Health in a report on Thursday, September 14th. Truist Financial cut their target price on CVS Health from $103.00 to $98.00 and set a “buy” rating on the stock in a research note on Thursday, August 3rd. Raymond James lowered their price target on CVS Health from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. Morgan Stanley cut their price objective on CVS Health from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. Finally, Sanford C. Bernstein decreased their target price on CVS Health from $93.00 to $80.00 in a report on Tuesday, October 10th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $92.59.

CVS Health Company Profile

CVS Health Corporation provides health services in the United States. It operates through Health Care Benefits, Pharmacy Services, and Retail/LTC segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.