TD Asset Management Inc Raises Stock Holdings in CVS Health Co. (NYSE:CVS)

TD Asset Management Inc boosted its holdings in shares of CVS Health Co. (NYSE:CVS) by 8.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,219,927 shares of the pharmacy operator’s stock after acquiring an additional 97,738 shares during the quarter. TD Asset Management Inc owned 0.10% of CVS Health worth $97,301,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CVS. Atticus Wealth Management LLC boosted its holdings in shares of CVS Health by 149.0% in the fourth quarter. Atticus Wealth Management LLC now owns 366 shares of the pharmacy operator’s stock valued at $29,000 after purchasing an additional 219 shares during the period. USA Financial Formulas raised its stake in CVS Health by 573.2% in the fourth quarter. USA Financial Formulas now owns 377 shares of the pharmacy operator’s stock worth $30,000 after buying an additional 321 shares in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of CVS Health during the 4th quarter worth $32,000. Creekmur Asset Management LLC purchased a new position in CVS Health in the fourth quarter valued at about $34,000. Finally, Steph & Co. lifted its position in shares of CVS Health by 192.0% during the first quarter. Steph & Co. now owns 438 shares of the pharmacy operator’s stock valued at $35,000 after buying an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Analyst Ratings Changes

CVS has been the topic of a number of research analyst reports. TD Cowen lowered shares of CVS Health from a “buy” rating to a “hold” rating and dropped their price objective for the company from $99.00 to $59.00 in a report on Tuesday, May 7th. Bank of America decreased their target price on CVS Health from $95.00 to $77.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. The Goldman Sachs Group cut their price target on shares of CVS Health from $85.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $58.00 price objective on shares of CVS Health in a report on Wednesday, June 12th. Finally, Wells Fargo & Company lowered their price target on CVS Health from $76.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 7th. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.05.

CVS Health Stock Down 1.2 %

Shares of NYSE:CVS traded down $0.75 during trading on Thursday, hitting $60.85. 3,075,828 shares of the company were exchanged, compared to its average volume of 11,684,047. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.61. The firm’s 50 day moving average price is $58.48 and its 200-day moving average price is $68.43. The stock has a market capitalization of $76.39 billion, a P/E ratio of 10.83, a PEG ratio of 0.57 and a beta of 0.52. CVS Health Co. has a 12-month low of $52.77 and a 12-month high of $83.25.

CVS Health (NYSE:CVS) last released its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.38). The company had revenue of $88.44 billion during the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.20 EPS. On average, research analysts predict that CVS Health Co. will post 7.02 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 22nd will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $2.66 dividend on an annualized basis and a yield of 4.37%. CVS Health’s payout ratio is currently 46.75%.

Insider Activity

In other news, Director Edward J. Ludwig acquired 1,000 shares of CVS Health stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average price of $53.88 per share, for a total transaction of $53,880.00. Following the completion of the transaction, the director now directly owns 21,630 shares in the company, valued at $1,165,424.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.24% of the company’s stock.

About CVS Health

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.