CVS Health Corporation $CVS Shares Sold by National Pension Service

Key Points

• National Pension Service reduced its CVS Health stake by 17% in the fourth quarter, selling 678,763 shares and leaving it with 3.32 million shares valued at about $263.5 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 80.66% of CVS stock, even as some institutions added aggressively and others trimmed positions.
• CVS continues to draw support from analysts and operating results: it beat quarterly earnings and revenue estimates, raised FY2026 guidance to $7.30–$7.50 EPS, and Wall Street’s consensus rating remains “Moderate Buy.”

National Pension Service trimmed its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 17.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,320,859 shares of the pharmacy operator's stock after selling 678,763 shares during the quarter. National Pension Service owned about 0.26% of CVS Health worth $263,543,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVS. Wellington Management Group LLP lifted its stake in CVS Health by 391.6% in the third quarter. Wellington Management Group LLP now owns 6,330,717 shares of the pharmacy operator's stock valued at $477,273,000 after buying an additional 5,042,816 shares during the last quarter. Amundi lifted its stake in CVS Health by 95.3% in the third quarter. Amundi now owns 7,453,980 shares of the pharmacy operator's stock valued at $572,665,000 after buying an additional 3,637,943 shares during the last quarter. Capital Research Global Investors lifted its stake in CVS Health by 24.5% in the third quarter. Capital Research Global Investors now owns 11,469,250 shares of the pharmacy operator's stock valued at $864,667,000 after buying an additional 2,253,531 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in CVS Health by 70.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,294,134 shares of the pharmacy operator's stock valued at $399,125,000 after buying an additional 2,188,307 shares during the last quarter. Finally, Hamlin Capital Management LLC purchased a new stake in CVS Health in the fourth quarter valued at approximately $160,844,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

Key Stories Impacting CVS Health

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

• Positive Sentiment: CVS Caremark said it will restore coverage of Eli Lilly’s weight-loss drug Zepbound and add Lilly’s new obesity pill to its standard drug plans, a move that could improve member access and make CVS’s drug formularies more competitive. Article Title
• Positive Sentiment: CVS Health Ventures led a $40 million investment in H1, reinforcing CVS’s push into health-tech and AI-driven provider data accuracy, which could support long-term digital growth initiatives. Article Title
• Positive Sentiment: Aetna launched “Aetna Mental Health On Demand,” giving members faster access to mental-health care and adding another visible example of CVS expanding its integrated care offerings. Article Title
• Positive Sentiment: CVS also expanded its Salesforce partnership to improve call-center service with AI tools, which may lower friction for members and providers and improve operating efficiency. Article Title
• Neutral Sentiment: Several reports focused on CVS’s dividend safety, with commentary suggesting the payout remains covered by cash flow; this is reassuring for income investors, but it is not a direct catalyst. Article Title
• Negative Sentiment: CVS filed suit to challenge Tennessee’s new PBM-pharmacy breakup law, signaling regulatory and legal pressure on part of its business model; however, this is more of a risk factor than an immediate earnings driver. Article Title

Insiders Place Their Bets

In related news, EVP Tilak Mandadi sold 69,551 shares of the company's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $89.58, for a total transaction of $6,230,378.58. Following the transaction, the executive vice president owned 10,133 shares of the company's stock, valued at $907,714.14. This represents a 87.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Larry Robbins sold 1,983,538 shares of the company's stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $94.45, for a total value of $187,345,164.10. Following the transaction, the director directly owned 6,213,261 shares in the company, valued at $586,842,501.45. This represents a 24.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,441,551 shares of company stock worth $323,703,977 in the last ninety days. 0.85% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CVS shares. UBS Group boosted their price objective on CVS Health from $97.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Leerink Partners reiterated an "outperform" rating and issued a $98.00 price objective on shares of CVS Health in a research note on Thursday, March 5th. Royal Bank Of Canada boosted their price objective on CVS Health from $93.00 to $107.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. Morgan Stanley boosted their price objective on CVS Health from $93.00 to $106.00 and gave the company an "overweight" rating in a research note on Thursday, May 14th. Finally, Mizuho boosted their price objective on CVS Health from $102.00 to $110.00 and gave the company an "outperform" rating in a research note on Wednesday, May 20th. Twenty-two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $98.88.

CVS Health Price Performance

CVS Health stock opened at $92.95 on Friday. CVS Health Corporation has a 12 month low of $58.50 and a 12 month high of $98.43. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.87 and a quick ratio of 0.66. The business has a 50 day simple moving average of $81.71 and a 200-day simple moving average of $79.47. The stock has a market capitalization of $118.59 billion, a PE ratio of 40.95, a price-to-earnings-growth ratio of 0.90 and a beta of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The pharmacy operator reported $2.57 EPS 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 business had revenue of $100.43 billion during the quarter, compared to analysts' expectations of $94.99 billion. During the same quarter in the prior year, the business earned $2.25 earnings per share. The company's quarterly revenue 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. Equities analysts predict that CVS Health Corporation will post 7.44 earnings per share for the current year.

CVS Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 4th. Stockholders of record on Thursday, April 23rd were paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Thursday, April 23rd. CVS Health's dividend payout ratio is 117.18%.

CVS Health 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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