Riverview Trust Co Has $54,000 Stock Position in CVS Health Co. (NYSE:CVS)

Riverview Trust Co trimmed its position in shares of CVS Health Co. (NYSE:CVS) by 28.9% in the third quarter, Holdings Channel reports. The fund owned 857 shares of the pharmacy operator’s stock after selling 349 shares during the quarter. Riverview Trust Co’s holdings in CVS Health were worth $54,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Pzena Investment Management LLC lifted its holdings in shares of CVS Health by 132.9% during the second quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after buying an additional 7,382,931 shares during the last quarter. Capital International Investors grew its position in CVS Health by 12.5% during the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after buying an additional 4,226,225 shares in the last quarter. Capital World Investors raised its holdings in CVS Health by 8.0% in the 1st quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after acquiring an additional 3,232,172 shares in the last quarter. State of Michigan Retirement System grew its holdings in shares of 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 in the last quarter. Finally, Swedbank AB acquired a new position in shares of CVS Health in the first quarter valued at $110,816,000. 80.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVS. TD Cowen raised shares of CVS Health from a “hold” rating to a “buy” rating and upped their target price for the stock from $59.00 to $85.00 in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a report on Friday, August 9th. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price target on shares of CVS Health in a research report on Tuesday, October 1st. Barclays upgraded CVS Health from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $63.00 to $82.00 in a research report on Thursday, October 10th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $68.00 target price on shares of CVS Health in a report on Wednesday, September 4th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.26.

CVS Health Stock Performance

Shares of NYSE CVS opened at $60.35 on Friday. The stock has a market capitalization of $75.76 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 0.93 and a beta of 0.54. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25. The stock has a 50 day moving average price of $59.80 and a 200 day moving average price of $60.62. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86.

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

CVS Health Announces Dividend

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

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.