CVS Health Corporation $CVS Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth reduced its CVS Health stake by 24.3% in the second quarter, selling 135,110 shares and retaining 419,758 shares valued at approximately $43.4 million.
• Institutional ownership remains substantial at 80.66%, with major investors including California State Teachers Retirement System, BlackRock, State Street, Wellington Management and Capital International Investors adjusting their positions.
• Analysts remain broadly bullish, with 22 Buy ratings and one Hold rating, an average price target of $107.24, and CVS reporting quarterly EPS of $2.58—well above the $1.87 consensus estimate.

Corient Private Wealth LP trimmed its position in CVS Health Corporation (NYSE:CVS - Free Report) by 24.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 419,758 shares of the pharmacy operator's stock after selling 135,110 shares during the period. Corient Private Wealth LP's holdings in CVS Health were worth $43,424,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CVS. California State Teachers Retirement System boosted its position in CVS Health by 10,133.9% during the second quarter. California State Teachers Retirement System now owns 193,320,429 shares of the pharmacy operator's stock worth $19,998,998,000 after acquiring an additional 191,431,405 shares during the last quarter. BlackRock Inc. acquired a new position in CVS Health in the 2nd quarter valued at $12,747,462,000. State Street Corp lifted its stake in shares of CVS Health by 2.1% during the 4th quarter. State Street Corp now owns 60,183,743 shares of the pharmacy operator's stock worth $4,776,182,000 after purchasing an additional 1,245,457 shares during the period. Wellington Management Group LLP boosted its holdings in shares of CVS Health by 49.8% during the second quarter. Wellington Management Group LLP now owns 33,801,113 shares of the pharmacy operator's stock worth $3,496,725,000 after purchasing an additional 11,233,381 shares during the last quarter. Finally, Capital International Investors boosted its holdings in shares of CVS Health by 3.4% during the fourth quarter. Capital International Investors now owns 27,592,356 shares of the pharmacy operator's stock worth $2,189,793,000 after purchasing an additional 900,153 shares during the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Truist Financial upped their target price on CVS Health from $108.00 to $118.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. raised their price target on CVS Health from $111.00 to $118.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th. Wall Street Zen cut CVS Health from a "strong-buy" rating to a "buy" rating in a report on Saturday. Robert W. Baird set a $107.00 price objective on shares of CVS Health in a research note on Thursday, August 6th. Finally, UBS Group decreased their target price on shares of CVS Health from $126.00 to $118.00 and set a "buy" rating on the stock in a research report on Thursday, September 3rd. Twenty-two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $107.24.

CVS Health Price Performance

Shares of CVS Health stock opened at $94.62 on Friday. CVS Health Corporation has a twelve month low of $69.51 and a twelve month high of $110.68. The stock has a market capitalization of $121.02 billion, a P/E ratio of 25.03, a PEG ratio of 0.92 and a beta of 0.59. The company has a current ratio of 0.87, a quick ratio of 0.66 and a debt-to-equity ratio of 0.74. The business's fifty day moving average price is $99.92 and its 200 day moving average price is $90.77.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The pharmacy operator reported $2.58 EPS for the quarter, topping the consensus estimate 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 firm's revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.81 earnings per share. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. As a group, research analysts anticipate that CVS Health Corporation will post 8.02 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 23rd were issued a $0.665 dividend. The ex-dividend date was Thursday, July 23rd. This represents a $2.66 annualized dividend and a yield of 2.8%. CVS Health's dividend payout ratio (DPR) is presently 70.37%.

CVS Health Profile

CVS Health Corporation is an American health care company headquartered in Woonsocket, Rhode Island. Founded in 1963 as Consumer Value Stores, the company has expanded from a chain of retail pharmacies into an integrated health care organization serving consumers, employers, health plans, government programs and health care providers.

CVS Health operates through several major businesses. Its Health Care Benefits segment, anchored by Aetna, provides health insurance products and related services for employers, individuals, Medicare and Medicaid members.

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