Bank of America Corp DE Decreases Stock Holdings in CVS Health Corporation $CVS

Key Points

• Bank of America trimmed its CVS Health stake by 0.7%, selling 67,667 shares and retaining 9.35 million shares worth approximately $671.7 million. Institutional investors collectively own 80.66% of the company.
• Analysts remain broadly bullish, with 21 Buy ratings and three Holds, an overall “Moderate Buy” consensus, and an average price target of $105.67.
• CVS reported quarterly earnings of $2.57 per share, beating expectations, while revenue rose 6.2% year over year to $100.43 billion. The company reaffirmed fiscal 2026 EPS guidance of $7.30–$7.50 and announced a quarterly dividend of $0.665 per share.

Bank of America Corp DE lowered its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 0.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,351,969 shares of the pharmacy operator's stock after selling 67,667 shares during the period. Bank of America Corp DE owned about 0.73% of CVS Health worth $671,658,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. State Street Corp grew its holdings in CVS Health by 2.1% in the fourth quarter. State Street Corp now owns 60,183,743 shares of the pharmacy operator's stock valued at $4,776,182,000 after purchasing an additional 1,245,457 shares during the period. Legal & General Group Plc lifted its position in shares of CVS Health by 0.3% during the 4th quarter. Legal & General Group Plc now owns 9,309,182 shares of the pharmacy operator's stock valued at $738,777,000 after buying an additional 31,249 shares in the last quarter. Deutsche Bank AG grew its stake in CVS Health by 28.4% in the 4th quarter. Deutsche Bank AG now owns 4,666,495 shares of the pharmacy operator's stock valued at $370,333,000 after acquiring an additional 1,031,998 shares during the period. KBC Group NV raised its position in CVS Health by 200.4% during the fourth quarter. KBC Group NV now owns 676,809 shares of the pharmacy operator's stock worth $53,711,000 after acquiring an additional 451,521 shares during the period. Finally, Hussman Strategic Advisors Inc. purchased a new position in CVS Health during the fourth quarter valued at $3,333,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CVS. Barclays boosted their target price on shares of CVS Health from $101.00 to $106.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 26th. Cantor Fitzgerald boosted their price objective on CVS Health from $100.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. DA Davidson raised their target price on CVS Health from $80.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Weiss Ratings raised CVS Health from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, July 20th. Finally, Royal Bank Of Canada boosted their price target on CVS Health from $107.00 to $113.00 and gave the stock an "outperform" rating in a research report on Thursday, July 9th. Twenty-one equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, CVS Health presently has an average rating of "Moderate Buy" and a consensus target price of $105.67.

Key Stories Impacting CVS Health

Here are the key news stories impacting CVS Health this week:

• Positive Sentiment: Wall Street’s generally bullish recommendations continue to support the investment case, suggesting analysts see further upside in CVS Health’s healthcare-services and pharmacy businesses. Is It Worth Investing in CVS Health Based on Wall Street’s Bullish Views?
• Positive Sentiment: CVS Health’s upcoming second-quarter results are being watched for evidence that revenue, earnings, medical costs, and other key operating metrics remain on track. The company previously reported a strong earnings beat and reaffirmed fiscal 2026 EPS guidance of $7.30 to $7.50, providing a positive fundamental backdrop. CVS Health Q2 Earnings: Wall Street’s Insights on Key Metrics
• Positive Sentiment: New availability of pet medications through CVS Pharmacy could modestly expand pharmacy traffic and customer convenience, although the financial impact is likely limited initially. Pet Medications Now Available at CVS Pharmacy

CVS Health Stock Down 0.6%

CVS stock opened at $104.54 on Friday. CVS Health Corporation has a one year low of $61.19 and a one year high of $110.68. The firm has a market cap of $133.39 billion, a PE ratio of 46.05, a PEG ratio of 1.03 and a beta of 0.61. The firm's 50 day moving average price is $101.45 and its 200-day moving average price is $87.04. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.66 and a current ratio of 0.87.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The pharmacy operator reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.36. CVS Health had a return on equity of 11.88% and a net margin of 0.72%.The company had revenue of $100.43 billion during the quarter, compared to analyst estimates of $94.99 billion. During the same period in the prior year, the business posted $2.25 earnings per share. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. CVS Health has set its FY 2026 guidance at 7.300-7.500 EPS. On average, equities research analysts anticipate that CVS Health Corporation will post 7.46 EPS for the current year.

CVS Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd will be given a $0.665 dividend. The ex-dividend date of this dividend is Thursday, July 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 2.5%. CVS Health's dividend payout ratio is presently 117.18%.

Insider Activity

In other CVS Health news, EVP Tilak Mandadi sold 69,551 shares of CVS Health stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $89.58, for a total transaction of $6,230,378.58. Following the completion of the sale, the executive vice president directly owned 10,133 shares in the company, valued at $907,714.14. This trade represents a 87.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Larry Robbins sold 1,983,538 shares of the business's stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $94.45, for a total transaction of $187,345,164.10. Following the completion of the sale, the director directly owned 6,213,261 shares in the company, valued at $586,842,501.45. This trade represents a 24.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 3,441,551 shares of company stock valued at $323,703,977. 0.85% of the stock is currently owned by insiders.

CVS Health Company Profile

CVS Health Corporation is a diversified healthcare company that operates a large network of retail pharmacies, pharmacy benefit management services and health care solutions. Headquartered in Woonsocket, Rhode Island, the company traces its roots to the early 1960s and has grown into an integrated provider of prescription drugs, over‑the‑counter products, clinical services and health insurance offerings. Its operating model combines retail pharmacy locations and in‑store clinics with broader pharmacy and health plan capabilities.

Key business activities include CVS Pharmacy retail operations, MinuteClinic walk‑in medical clinics and HealthHUB locations that offer expanded clinical services.

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