TD Private Client Wealth LLC Sells 15,673 Shares of CVS Health Co. (NYSE:CVS)

TD Private Client Wealth LLC lowered its stake in shares of CVS Health Co. (NYSE:CVS) by 33.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,265 shares of the pharmacy operator’s stock after selling 15,673 shares during the quarter. TD Private Client Wealth LLC’s holdings in CVS Health were worth $1,403,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CVS. Segall Bryant & Hamill LLC bought a new stake in CVS Health during the third quarter worth approximately $1,847,000. Intech Investment Management LLC boosted its position in CVS Health by 70.5% during the third quarter. Intech Investment Management LLC now owns 96,520 shares of the pharmacy operator’s stock worth $6,069,000 after purchasing an additional 39,919 shares during the period. Eagle Asset Management Inc. acquired a new position in shares of CVS Health during the third quarter worth approximately $2,795,000. Biltmore Family Office LLC acquired a new position in shares of CVS Health during the third quarter worth approximately $212,000. Finally, Meridian Wealth Management LLC acquired a new position in shares of CVS Health during the third quarter worth approximately $942,000. Institutional investors own 80.66% of the company’s stock.

CVS Health Stock Performance

CVS Health stock opened at $67.22 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60. The stock has a fifty day moving average price of $60.60 and a two-hundred day moving average price of $57.35. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The firm has a market capitalization of $84.75 billion, a P/E ratio of 18.37, a P/E/G ratio of 0.98 and a beta of 0.54.

CVS Health (NYSE:CVS) last announced its earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 EPS for the quarter, topping the consensus estimate of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. As a group, analysts anticipate that CVS Health Co. will post 5.89 EPS for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 3.96%. The ex-dividend date is Tuesday, April 22nd. CVS Health’s payout ratio is presently 72.68%.

Insider Transactions at CVS Health

In other news, Director Michael F. Mahoney purchased 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the acquisition, the director now directly owns 39,356 shares in the company, valued at approximately $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James David Clark sold 7,513 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $66.35, for a total value of $498,487.55. Following the completion of the transaction, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. This represents a 47.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

CVS has been the subject of a number of research analyst reports. StockNews.com upgraded CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Truist Financial upped their price target on CVS Health from $60.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Leerink Partnrs upgraded CVS Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Piper Sandler upped their price target on CVS Health from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday. Finally, UBS Group cut their target price on CVS Health from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and an average price target of $70.39.

About CVS Health

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.