CVS Health Co. (NYSE:CVS) Stake Cut by TD Private Client Wealth LLC

TD Private Client Wealth LLC cut its position in shares of CVS Health Co. (NYSE:CVS) by 33.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 reporting period.

Several other large investors have also recently added to or reduced their stakes in CVS. Segall Bryant & Hamill LLC bought a new position in CVS Health during the third quarter worth $1,847,000. Intech Investment Management LLC lifted its stake in CVS Health by 70.5% in the third quarter. Intech Investment Management LLC now owns 96,520 shares of the pharmacy operator’s stock valued at $6,069,000 after buying an additional 39,919 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in CVS Health in the third quarter valued at $2,795,000. Biltmore Family Office LLC bought a new stake in CVS Health in the third quarter valued at $212,000. Finally, Meridian Wealth Management LLC bought a new stake in CVS Health in the third quarter valued at $942,000. 80.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CVS has been the topic of a number of recent research reports. Barclays raised their target price on CVS Health from $71.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Wolfe Research raised their target price on CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Leerink Partners raised CVS Health from a “market perform” rating to an “outperform” rating and raised their price target for the company from $55.00 to $75.00 in a report on Thursday, February 13th. Piper Sandler raised their price target on CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Friday. Finally, StockNews.com raised CVS Health from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.39.

Insider Activity

In other CVS Health news, Director Michael F. Mahoney bought 30,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the acquisition, the director now directly owns 39,356 shares of the company’s stock, valued at approximately $2,625,045.20. This trade represents a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP James David Clark sold 7,513 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 8,394 shares of the company’s stock, valued at approximately $556,941.90. The trade was a 47.23 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

CVS Health Price Performance

NYSE:CVS opened at $67.22 on Friday. The business’s 50-day moving average price is $60.60 and its 200 day moving average price is $57.35. The firm has a market cap of $84.75 billion, a P/E ratio of 18.37, a PEG ratio of 0.98 and a beta of 0.54. CVS Health Co. has a 52-week low of $43.56 and a 52-week high of $80.75. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates 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, sell-side analysts predict that CVS Health Co. will post 5.89 earnings per share 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 $0.665 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.96%. CVS Health’s dividend payout ratio is 72.68%.

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.