TD Asset Management Inc Raises Position in CVS Health Corporation $CVS

Key Points

• TD Asset Management Inc has increased its stake in CVS Health by 14.6%, holding approximately 1,220,961 shares valued at $84.2 million.
• CVS Health's most recent earnings report showed an EPS of $1.81, exceeding analysts' expectations, with revenue reaching $98.92 billion and an annual revenue growth of 8.4%.
• The company has declared a quarterly dividend of $0.665 per share, representing an annualized dividend yield of 3.3%, with a payout ratio of 74.30%.

TD Asset Management Inc increased its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 14.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,220,961 shares of the pharmacy operator's stock after purchasing an additional 155,993 shares during the period. TD Asset Management Inc owned approximately 0.10% of CVS Health worth $84,222,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVS. Bell Investment Advisors Inc boosted its position in shares of CVS Health by 119.8% during the first quarter. Bell Investment Advisors Inc now owns 455 shares of the pharmacy operator's stock worth $31,000 after acquiring an additional 248 shares during the last quarter. Roxbury Financial LLC increased its stake in CVS Health by 78.3% in the 2nd quarter. Roxbury Financial LLC now owns 460 shares of the pharmacy operator's stock worth $32,000 after buying an additional 202 shares during the period. ORG Partners LLC increased its position in CVS Health by 418.9% during the 2nd quarter. ORG Partners LLC now owns 467 shares of the pharmacy operator's stock valued at $32,000 after purchasing an additional 377 shares during the period. Saudi Central Bank purchased a new position in shares of CVS Health in the 1st quarter worth approximately $34,000. Finally, Livelsberger Financial Advisory acquired a new stake in CVS Health in the 2nd quarter worth approximately $35,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Bernstein Bank cut their target price on shares of CVS Health from $78.00 to $72.00 and set a "market perform" rating for the company in a report on Wednesday, July 16th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of CVS Health in a report on Tuesday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $78.00 target price on shares of CVS Health in a report on Tuesday, August 26th. UBS Group raised shares of CVS Health from a "neutral" rating to a "buy" rating and upped their target price for the stock from $67.00 to $79.00 in a report on Monday, August 18th. Finally, Baird R W raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $81.05.

Insider Activity at CVS Health

In related news, Director Anne A. Finucane sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $71.02, for a total transaction of $532,650.00. Following the completion of the sale, the director owned 22,156 shares of the company's stock, valued at approximately $1,573,519.12. This represents a 25.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.22% of the stock is currently owned by corporate insiders.

CVS Health Stock Performance

Shares of CVS Health stock opened at $79.67 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $101.05 billion, a P/E ratio of 22.25, a P/E/G ratio of 0.87 and a beta of 0.60. The firm's 50 day moving average is $72.95 and its two-hundred day moving average is $67.83. CVS Health Corporation has a 52 week low of $43.56 and a 52 week high of $79.94.

CVS Health (NYSE:CVS - Get Free Report) last announced its earnings results on Thursday, July 31st. The pharmacy operator reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.35. The business had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $1.83 earnings per share. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. Research analysts forecast that CVS Health Corporation will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 23rd will be paid a dividend of $0.665 per share. The ex-dividend date of this dividend is Thursday, October 23rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.3%. CVS Health's dividend payout ratio is currently 74.30%.

CVS Health Company 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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