California State Teachers Retirement System Has $20 Billion Stock Holdings in CVS Health Corporation $CVS

Key Points

• California State Teachers Retirement System dramatically increased its CVS Health stake by 10,133.9% in the second quarter, owning 193.3 million shares worth nearly $20 billion, or about 15.1% of the company.
• Analysts remain broadly bullish: 22 analysts rate CVS as a Buy and one as a Hold, with a consensus price target of $106.83. Several firms recently raised their targets to between $108 and $113.
• CVS reported stronger-than-expected quarterly results, including $2.58 in adjusted EPS versus $1.87 expected and revenue of $106.1 billion. The company also maintained a quarterly dividend of $0.665, representing a 2.7% annualized yield.

California State Teachers Retirement System boosted its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 10,133.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 193,320,429 shares of the pharmacy operator's stock after buying an additional 191,431,405 shares during the quarter. California State Teachers Retirement System owned approximately 15.12% of CVS Health worth $19,998,998,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Handelsbanken Fonder AB lifted its stake in shares of CVS Health by 83.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 1,089,694 shares of the pharmacy operator's stock valued at $112,729,000 after purchasing an additional 496,124 shares during the last quarter. BNP Paribas increased its position in CVS Health by 105.2% during the second quarter. BNP Paribas now owns 49,971 shares of the pharmacy operator's stock worth $5,154,000 after buying an additional 25,617 shares during the last quarter. Legal & General Group Plc raised its holdings in CVS Health by 0.3% during the fourth 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. State Street Corp raised its holdings in CVS Health by 2.1% during 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 buying an additional 1,245,457 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of CVS Health by 28.4% in the fourth quarter. Deutsche Bank AG now owns 4,666,495 shares of the pharmacy operator's stock worth $370,333,000 after buying an additional 1,031,998 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on CVS shares. Barclays increased their price objective on CVS Health from $106.00 to $108.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Piper Sandler reaffirmed an "overweight" rating on shares of CVS Health in a research report on Wednesday, August 26th. Cantor Fitzgerald increased their price target on CVS Health from $100.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. Morgan Stanley lifted their price target on shares of CVS Health from $106.00 to $111.00 and gave the company an "overweight" rating in a research report on Thursday, June 4th. Finally, Royal Bank Of Canada upped their price objective on shares of CVS Health from $107.00 to $113.00 and gave the stock an "outperform" rating in a report on Thursday, July 9th. Twenty-two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, CVS Health has an average rating of "Moderate Buy" and a consensus price target of $106.83.

CVS Health Stock Performance

CVS opened at $96.80 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 0.74. The stock's 50 day moving average price is $100.65 and its two-hundred day moving average price is $90.35. The firm has a market capitalization of $123.80 billion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 0.94 and a beta of 0.59. CVS Health Corporation has a 12-month low of $69.51 and a 12-month high of $110.68.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The pharmacy operator reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $1.87 by $0.71. The company had revenue of $106.10 billion during the quarter, compared to analyst estimates of $100.03 billion. CVS Health had a return on equity of 13.12% and a net margin of 1.18%.The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.81 earnings per share. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. On average, equities analysts forecast that CVS Health Corporation will post 8.02 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd were issued a $0.665 dividend. The ex-dividend date of this dividend was Thursday, July 23rd. This represents a $2.66 dividend on an annualized basis and a yield of 2.7%. CVS Health's dividend payout ratio is 70.37%.

About CVS Health

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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