Adell Harriman & Carpenter Inc. Boosts Stake in Toronto-Dominion Bank (TD)
Adell Harriman & Carpenter Inc. lifted its stake in Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 8.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,902 shares of the bank’s stock after acquiring an additional 6,998 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Toronto-Dominion Bank were worth $4,939,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Farmers National Bank bought a new stake in Toronto-Dominion Bank in the first quarter worth $33,000. Raymond James & Associates boosted its holdings in Toronto-Dominion Bank by 2.6% during the first quarter. Raymond James & Associates now owns 239,019 shares of the bank’s stock valued at $12,984,000 after acquiring an additional 6,133 shares during the period. CIBC Asset Management Inc boosted its holdings in Toronto-Dominion Bank by 13.3% during the first quarter. CIBC Asset Management Inc now owns 21,510,636 shares of the bank’s stock valued at $1,167,313,000 after acquiring an additional 2,517,475 shares during the period. Cidel Asset Management Inc. boosted its holdings in Toronto-Dominion Bank by 1.0% during the first quarter. Cidel Asset Management Inc. now owns 2,554,276 shares of the bank’s stock valued at $138,655,000 after acquiring an additional 26,223 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in Toronto-Dominion Bank by 48.9% during the first quarter. Toronto Dominion Bank now owns 16,443,402 shares of the bank’s stock valued at $892,223,000 after acquiring an additional 5,402,536 shares during the period. 49.74% of the stock is currently owned by institutional investors and hedge funds.
TD stock opened at $55.07 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.93 and a quick ratio of 0.93. Toronto-Dominion Bank has a 52-week low of $47.73 and a 52-week high of $62.00. The stock has a market cap of $100.03 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 1.52 and a beta of 1.06.
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th were issued a dividend of $0.564 per share. This represents a $2.26 dividend on an annualized basis and a yield of 4.10%. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, April 9th. Toronto-Dominion Bank’s dividend payout ratio is 44.14%.
TD has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Tuesday, January 22nd. BMO Capital Markets restated a “buy” rating on shares of Toronto-Dominion Bank in a report on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Toronto-Dominion Bank presently has a consensus rating of “Hold” and an average price target of $60.00.
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About Toronto-Dominion Bank
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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