Riverview Trust Co Decreases Stake in CVS Health Co. (NYSE:CVS)

Riverview Trust Co lessened its position in shares of CVS Health Co. (NYSE:CVS) by 28.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 857 shares of the pharmacy operator’s stock after selling 349 shares during the period. Riverview Trust Co’s holdings in CVS Health were worth $54,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CVS. Pzena Investment Management LLC increased its holdings in CVS Health by 132.9% in the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock valued at $764,023,000 after buying an additional 7,382,931 shares during the last quarter. Capital International Investors raised its position in CVS Health by 12.5% in the 1st quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock valued at $3,024,334,000 after purchasing an additional 4,226,225 shares during the last quarter. Capital World Investors boosted its stake in CVS Health by 8.0% during the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock worth $3,491,643,000 after purchasing an additional 3,232,172 shares during the period. State of Michigan Retirement System grew its position in CVS Health by 402.5% during the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock worth $118,455,000 after purchasing an additional 1,606,500 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of CVS Health in the first quarter valued at about $110,816,000. 80.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on CVS shares. Evercore ISI boosted their price target on CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and increased their price objective for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Wells Fargo & Company lifted their target price on shares of CVS Health from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, Barclays raised CVS Health from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $63.00 to $82.00 in a research note on Thursday, October 10th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, CVS Health presently has an average rating of “Moderate Buy” and a consensus price target of $75.26.

CVS Health Price Performance

NYSE CVS opened at $60.35 on Friday. The company has a 50-day moving average price of $59.80 and a two-hundred day moving average price of $60.62. The stock has a market cap of $75.76 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25.

CVS Health (NYSE:CVS) last issued its quarterly earnings data on Wednesday, August 7th. The pharmacy operator reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion for the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 earnings per share. Analysts forecast that CVS Health Co. will post 6.51 EPS for the current year.

CVS Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, October 21st will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend is Monday, October 21st. CVS Health’s dividend payout ratio is presently 46.75%.

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.