Toronto Dominion Bank Sells 631,920 Shares of CVS Health Co. (NYSE:CVS)

Toronto Dominion Bank reduced its position in CVS Health Co. (NYSE:CVS - Free Report) by 41.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 876,151 shares of the pharmacy operator's stock after selling 631,920 shares during the quarter. Toronto Dominion Bank owned approximately 0.07% of CVS Health worth $39,330,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVS. Norges Bank bought a new position in CVS Health in the fourth quarter worth $839,574,000. Capital World Investors boosted its stake in shares of CVS Health by 26.6% in the 4th quarter. Capital World Investors now owns 61,039,777 shares of the pharmacy operator's stock valued at $2,739,927,000 after purchasing an additional 12,819,148 shares in the last quarter. Davis Selected Advisers grew its holdings in shares of CVS Health by 2,998.1% in the 4th quarter. Davis Selected Advisers now owns 11,385,950 shares of the pharmacy operator's stock worth $511,115,000 after purchasing an additional 11,018,438 shares during the last quarter. Dodge & Cox increased its position in shares of CVS Health by 11.2% during the 4th quarter. Dodge & Cox now owns 70,105,899 shares of the pharmacy operator's stock worth $3,147,054,000 after purchasing an additional 7,075,209 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its holdings in CVS Health by 49.3% during the 4th quarter. Pzena Investment Management LLC now owns 19,610,579 shares of the pharmacy operator's stock valued at $880,319,000 after purchasing an additional 6,475,271 shares during the last quarter. 80.66% of the stock is owned by institutional investors.

Insider Transactions at CVS Health

In related news, SVP James David Clark sold 7,513 shares of CVS Health stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total transaction of $498,487.55. Following the transaction, the senior vice president now owns 8,394 shares of the company's stock, valued at $556,941.90. This trade represents a 47.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CVS has been the subject of several analyst reports. Morgan Stanley reissued an "overweight" rating on shares of CVS Health in a report on Tuesday, April 15th. Barclays lifted their price target on shares of CVS Health from $73.00 to $82.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. lifted their price target on shares of CVS Health from $80.00 to $81.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Cowen reissued a "buy" rating on shares of CVS Health in a report on Monday, May 5th. Finally, Leerink Partners raised shares of CVS Health from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, CVS Health presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.94.

CVS Health Trading Up 1.9%

Shares of NYSE:CVS traded up $1.21 during trading on Friday, hitting $63.99. 13,306,917 shares of the company's stock were exchanged, compared to its average volume of 11,213,338. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $72.51. The firm has a 50-day moving average price of $65.62 and a two-hundred day moving average price of $59.64. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The firm has a market cap of $80.95 billion, a P/E ratio of 17.48, a PEG ratio of 0.98 and a beta of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 EPS for the quarter, topping the consensus estimate of $1.62 by $0.63. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The company had revenue of $94.59 billion during the quarter, compared to analysts' expectations of $93.07 billion. During the same quarter in the previous year, the company earned $1.31 EPS. CVS Health's revenue was up 7.0% on a year-over-year basis. Equities analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health's dividend payout ratio is 63.48%.

CVS Health 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.