TD Private Client Wealth LLC Raises Stake in CVS Health Corporation $CVS

Key Points

• TD Private Client Wealth LLC increased its stake in CVS Health Corporation by 26.3%, owning 99,674 shares valued at approximately $6.88 million at the end of the last reporting period.
• CVS Health recently declared a quarterly dividend of $0.665 per share, providing an annualized yield of 3.5%, with the payment scheduled for November 3rd.
• Analyst ratings suggest a Moderate Buy consensus on CVS Health, with a price target averaging $78.25 among analysts following the stock.

TD Private Client Wealth LLC grew its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 26.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 99,674 shares of the pharmacy operator's stock after acquiring an additional 20,760 shares during the period. TD Private Client Wealth LLC's holdings in CVS Health were worth $6,876,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CVS. Vanguard Group Inc. boosted its position in CVS Health by 0.8% during the first quarter. Vanguard Group Inc. now owns 118,335,394 shares of the pharmacy operator's stock worth $8,017,223,000 after purchasing an additional 969,027 shares during the period. Dodge & Cox grew its stake in CVS Health by 4.8% in the 1st quarter. Dodge & Cox now owns 73,459,122 shares of the pharmacy operator's stock valued at $4,976,856,000 after buying an additional 3,353,223 shares in the last quarter. Invesco Ltd. lifted its position in shares of CVS Health by 13.2% during the first quarter. Invesco Ltd. now owns 20,413,853 shares of the pharmacy operator's stock worth $1,383,039,000 after acquiring an additional 2,375,764 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of CVS Health by 14.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,309,289 shares of the pharmacy operator's stock worth $1,037,205,000 after acquiring an additional 1,942,886 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of CVS Health by 5.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,647,873 shares of the pharmacy operator's stock valued at $924,643,000 after purchasing an additional 728,924 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on CVS. Morgan Stanley raised their target price on CVS Health from $80.00 to $82.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Baird R W raised shares of CVS Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th. Zacks Research lowered shares of CVS Health from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Jefferies Financial Group lifted their price objective on CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Finally, Sanford C. Bernstein raised their price target on CVS Health from $72.00 to $77.00 and gave the company a "market perform" rating in a report on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $78.25.

CVS Health Stock Performance

NYSE:CVS opened at $76.44 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. CVS Health Corporation has a twelve month low of $43.56 and a twelve month high of $76.92. The stock has a market cap of $96.96 billion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 0.83 and a beta of 0.62. The firm's fifty day simple moving average is $68.38 and its 200 day simple moving average is $66.77.

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 for the quarter, beating analysts' consensus estimates of $1.46 by $0.35. CVS Health had a net margin of 1.17% and a return on equity of 10.51%. The firm had revenue of $98.92 billion for the quarter, compared to analyst estimates of $94.87 billion. During the same quarter in the previous year, the firm posted $1.83 EPS. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. CVS Health has set its FY 2025 guidance at 6.300-6.400 EPS. As a group, research analysts predict that CVS Health Corporation will post 5.89 EPS for the current year.

CVS Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 23rd will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Thursday, October 23rd. CVS Health's dividend payout ratio is presently 74.30%.

Insider Buying and Selling

In other news, Director Anne A. Finucane sold 7,500 shares of the business's stock in a transaction 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 sale, the director owned 22,156 shares in the company, valued at approximately $1,573,519.12. The trade was a 25.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.22% of the company's stock.

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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