CVS Health Corporation $CVS Shares Sold by Arizona State Retirement System

Key Points

• Arizona State Retirement System reduced its stake in CVS by 3.8%, selling 14,166 shares and now holds 355,312 shares worth about $28.20 million.
• CVS beat quarterly expectations, reporting $1.09 EPS vs. a $1.00 estimate and $105.69 billion in revenue (up 8.2% year-over-year), and set FY2026 guidance of $5.94–$6.14 while analysts forecast roughly $7.14 EPS.
• Dividend declared: CVS announced a $0.665 quarterly dividend (annualized $2.66) for a 3.4% yield, but the payout ratio is about 192.75%, which raises questions about dividend sustainability.

Arizona State Retirement System reduced its stake in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 3.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 355,312 shares of the pharmacy operator's stock after selling 14,166 shares during the period. Arizona State Retirement System's holdings in CVS Health were worth $28,198,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. grew its position in CVS Health by 72.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 339 shares of the pharmacy operator's stock worth $26,000 after purchasing an additional 142 shares during the period. Caitong International Asset Management Co. Ltd grew its position in CVS Health by 407.2% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 350 shares of the pharmacy operator's stock worth $26,000 after purchasing an additional 281 shares during the period. Corundum Trust Company INC acquired a new stake in CVS Health during the 3rd quarter worth about $29,000. GoalVest Advisory LLC acquired a new stake in CVS Health during the 4th quarter worth about $32,000. Finally, SOA Wealth Advisors LLC. grew its position in CVS Health by 36.9% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 486 shares of the pharmacy operator's stock worth $37,000 after purchasing an additional 131 shares during the period. 80.66% of the stock is owned by institutional investors and hedge funds.

CVS Health Price Performance

Shares of NYSE CVS opened at $78.87 on Friday. The firm has a market cap of $101.08 billion, a PE ratio of 57.15, a PEG ratio of 0.80 and a beta of 0.51. The firm has a fifty day moving average of $76.03 and a 200 day moving average of $77.84. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.63 and a current ratio of 0.84. CVS Health Corporation has a one year low of $58.35 and a one year high of $85.15.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The pharmacy operator reported $1.09 EPS for the quarter, topping the consensus estimate of $1.00 by $0.09. The company had revenue of $105.69 billion during the quarter, compared to analyst estimates of $103.67 billion. CVS Health had a net margin of 0.44% and a return on equity of 11.31%. The firm's revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.19 EPS. CVS Health has set its FY 2026 guidance at 5.940-6.140 EPS. As a group, research analysts predict that CVS Health Corporation will post 7.14 EPS for the current fiscal year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Investors of record on Thursday, April 23rd will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Thursday, April 23rd. CVS Health's payout ratio is presently 192.75%.

Key Headlines Impacting CVS Health

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

• Positive Sentiment: Analyst / media bullishness: A feature arguing that CVS is an attractive value/turnaround stock highlights improving fundamentals and a clearer earnings outlook, which can support investor demand and valuation rerating. Is CVS Health the Ultimate Value Stock to Buy Right Now?
• Neutral Sentiment: Recent intraday / market movement: Coverage noting a recent pullback in CVS shares (about a 1.2% decline in the prior session) frames how short-term market flows and sector moves are influencing the name independent of fundamentals. Watch volume and whether buyers step in on weakness. CVS Health (CVS) Stock Falls Amid Market Uptick
• Negative Sentiment: State-level PBM crackdown: Tennessee passed a bill restricting pharmacy ownership of PBMs; CVS warns the law could force closures of many stores in the state and has signaled legal action. This creates near-term revenue and margin uncertainty in affected markets and raises the risk of similar laws elsewhere. Legislation to ban pharmacies from owning PBMs heads to Gov. Lee's desk, CVS Health may close Tenn. locations
• Negative Sentiment: Broader regulatory threat: Coverage of a sweeping new healthcare law targeting parts of the drug supply chain suggests larger national policy risk that could force store closures or change CVS’s PBM economics; that elevates legal, operational and reimbursement uncertainty for investors. CVS fights law that could force over 100 stores to close
• Negative Sentiment: Deal cost risk for primary care expansion: Analysis of the Mass General Brigham–CVS primary care arrangement flags a potential ~$40M “hidden” access/cost issue, implying integration or access costs that could weigh on margins from the company’s care-delivery growth strategy. Mass General Brigham, CVS Primary Care Deal Could Have a $40M Hidden Cost of Access

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. TD Cowen reaffirmed a "buy" rating on shares of CVS Health in a research report on Friday, March 13th. Argus dropped their price target on shares of CVS Health from $91.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, January 28th. Weiss Ratings restated a "hold (c-)" rating on shares of CVS Health in a research report on Monday, December 29th. The Goldman Sachs Group raised their price target on shares of CVS Health from $95.00 to $97.00 and gave the company a "buy" rating in a research report on Thursday, February 12th. Finally, Bank of America dropped their price target on shares of CVS Health from $100.00 to $95.00 and set a "buy" rating on the stock in a research report on Tuesday, January 27th. Twenty research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, CVS Health currently has a consensus rating of "Moderate Buy" and an average target price of $95.05.

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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