TD Private Client Wealth LLC Raises Position in CVS Health Co. (NYSE:CVS)

TD Private Client Wealth LLC boosted its position in CVS Health Co. (NYSE:CVS - Free Report) by 28.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,938 shares of the pharmacy operator's stock after purchasing an additional 10,465 shares during the quarter. TD Private Client Wealth LLC's holdings in CVS Health were worth $2,951,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State Street Corp increased its holdings in shares of CVS Health by 3.6% during the third quarter. State Street Corp now owns 56,527,909 shares of the pharmacy operator's stock valued at $3,554,475,000 after acquiring an additional 1,989,066 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of CVS Health by 1.8% during the third quarter. Geode Capital Management LLC now owns 26,361,673 shares of the pharmacy operator's stock valued at $1,651,997,000 after buying an additional 461,569 shares during the last quarter. Pzena Investment Management LLC increased its position in shares of CVS Health by 1.5% in the 3rd quarter. Pzena Investment Management LLC now owns 13,135,308 shares of the pharmacy operator's stock valued at $825,948,000 after acquiring an additional 198,920 shares during the period. Charles Schwab Investment Management Inc. raised its stake in CVS Health by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,208,668 shares of the pharmacy operator's stock worth $767,681,000 after acquiring an additional 304,386 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in CVS Health by 34.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 11,897,034 shares of the pharmacy operator's stock worth $748,085,000 after acquiring an additional 3,071,613 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Trading Down 4.2 %

Shares of CVS traded down $2.17 during trading on Thursday, reaching $49.59. 22,450,467 shares of the company traded hands, compared to its average volume of 11,356,060. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a 50-day simple moving average of $58.86 and a 200-day simple moving average of $58.75. CVS Health Co. has a twelve month low of $49.47 and a twelve month high of $83.25. The stock has a market cap of $62.40 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.95 and a beta of 0.54.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.01. The firm had revenue of $95.43 billion during the quarter, compared to analysts' expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. The business's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.21 earnings per share. On average, analysts anticipate that CVS Health Co. will post 5.32 earnings per share for the current year.

CVS Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, October 21st were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health's dividend payout ratio (DPR) is 67.51%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a "hold" rating to a "buy" rating and set a $66.00 price objective on the stock in a research note on Tuesday, December 3rd. Wells Fargo & Company raised shares of CVS Health from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $60.00 to $66.00 in a research note on Monday, November 18th. Royal Bank of Canada reduced their target price on CVS Health from $68.00 to $58.00 and set an "outperform" rating for the company in a research note on Friday, November 15th. TD Cowen lifted their price objective on CVS Health from $73.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Finally, Truist Financial restated a "buy" rating and issued a $67.00 price objective (down previously from $76.00) on shares of CVS Health in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $70.50.

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.