TD Asset Management Inc Sells 4,300 Shares of National HealthCare Co. (NYSE:NHC)

Key Points

• TD Asset Management Inc has reduced its stake in National HealthCare Co. by 34.7%, selling 4,300 shares, and now holds approximately 0.05% of the company.
• National HealthCare recently increased its quarterly dividend to $0.64, representing an annualized yield of 2.7%.
• Wall Street analysts have upgraded National HealthCare from a "buy" to a "strong-buy" rating, indicating positive growth prospects for the company.

TD Asset Management Inc decreased its position in shares of National HealthCare Co. (NYSE:NHC - Free Report) by 34.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,100 shares of the company's stock after selling 4,300 shares during the quarter. TD Asset Management Inc owned approximately 0.05% of National HealthCare worth $752,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its position in National HealthCare by 10,510.2% during the first quarter. GAMMA Investing LLC now owns 31,088 shares of the company's stock valued at $2,885,000 after purchasing an additional 30,795 shares in the last quarter. Sovereign s Capital Management LLC bought a new stake in National HealthCare during the fourth quarter valued at about $2,632,000. First Trust Advisors LP boosted its position in National HealthCare by 75.6% during the fourth quarter. First Trust Advisors LP now owns 47,062 shares of the company's stock valued at $5,062,000 after purchasing an additional 20,268 shares in the last quarter. JPMorgan Chase & Co. boosted its position in National HealthCare by 46.6% during the fourth quarter. JPMorgan Chase & Co. now owns 63,145 shares of the company's stock valued at $6,792,000 after purchasing an additional 20,072 shares in the last quarter. Finally, Alps Advisors Inc. boosted its position in National HealthCare by 7.7% during the first quarter. Alps Advisors Inc. now owns 147,800 shares of the company's stock valued at $13,716,000 after purchasing an additional 10,614 shares in the last quarter. Institutional investors own 56.44% of the company's stock.

National HealthCare Trading Up 0.2%

National HealthCare stock opened at $94.77 on Tuesday. The stock has a 50-day moving average of $102.61 and a two-hundred day moving average of $98.54. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.77 and a current ratio of 1.80. National HealthCare Co. has a one year low of $89.14 and a one year high of $137.53. The stock has a market cap of $1.47 billion, a PE ratio of 11.88 and a beta of 0.58.

National HealthCare Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Monday, June 30th were paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 2.7%. This is a boost from National HealthCare's previous quarterly dividend of $0.61. The ex-dividend date was Monday, June 30th. National HealthCare's dividend payout ratio (DPR) is 36.99%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised National HealthCare from a "buy" rating to a "strong-buy" rating in a research report on Monday, May 12th.

National HealthCare Profile

National HealthCare Corporation engages in the operation of services to skilled nursing facilities, assisted and independent living facilities, homecare and hospice agencies, and health hospitals. Its skilled nursing facilities offer licensed therapy services, nutrition services, social services, activities, and housekeeping and laundry services, as well as medical services prescribed by physicians; and rehabilitative services, such as physical, speech, respiratory, and occupational therapy for patients recovering from strokes, heart attacks, orthopedic conditions, neurological illnesses, or other illnesses, injuries, or disabilities.

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