Jennison Associates LLC Has $110.78 Million Stock Holdings in CVS Health Corporation $CVS

Key Points

• Jennison Associates boosted its CVS stake 40.8% in Q4, buying 404,694 shares to hold 1,395,959 shares valued at $110.78 million (about 0.11% of the company).
• Institutional investors own 80.66% of CVS, with large holders like Vanguard (120.7M shares, ~$9.58B), Capital World Investors and State Street also increasing positions recently.
• Analysts give CVS a consensus rating of Moderate Buy (20 Buys, 3 Holds) with a $95.05 target, and the company pays a $0.665 quarterly dividend (annualized $2.66, ~3.2% yield) despite a high payout ratio (~193%).

Jennison Associates LLC increased its position in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 40.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,395,959 shares of the pharmacy operator's stock after acquiring an additional 404,694 shares during the period. Jennison Associates LLC owned about 0.11% of CVS Health worth $110,783,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of CVS Health by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 120,709,530 shares of the pharmacy operator's stock worth $9,579,508,000 after acquiring an additional 1,824,424 shares in the last quarter. Capital World Investors boosted its position in shares of CVS Health by 2.1% during the 3rd quarter. Capital World Investors now owns 68,382,158 shares of the pharmacy operator's stock worth $5,155,380,000 after acquiring an additional 1,419,575 shares in the last quarter. State Street Corp boosted its position in shares of CVS Health by 0.3% during the 3rd quarter. State Street Corp now owns 58,938,286 shares of the pharmacy operator's stock worth $4,443,357,000 after acquiring an additional 149,701 shares in the last quarter. Capital International Investors boosted its position in shares of CVS Health by 1.1% during the 3rd quarter. Capital International Investors now owns 26,692,203 shares of the pharmacy operator's stock worth $2,012,347,000 after acquiring an additional 302,499 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of CVS Health by 3.2% during the 3rd quarter. Invesco Ltd. now owns 24,293,058 shares of the pharmacy operator's stock worth $1,831,454,000 after acquiring an additional 760,579 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CVS. The Goldman Sachs Group increased their price target on shares of CVS Health from $95.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, February 12th. TD Cowen reiterated a "buy" rating on shares of CVS Health in a research report on Friday, March 13th. Sanford C. Bernstein upgraded shares of CVS Health from a "market perform" rating to an "outperform" rating and raised their target price for the company from $91.00 to $94.00 in a research report on Thursday, March 12th. Leerink Partners restated an "outperform" rating and issued a $98.00 target price on shares of CVS Health in a research report on Thursday, March 5th. Finally, Argus cut their target price 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. Twenty investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $95.05.

Key Stories Impacting CVS Health

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

• Positive Sentiment: CVS won enterprise- and customer-facing AI awards, highlighting scaled AI deployments that could improve customer experience and operational efficiency. CVS Health’s Award Winning AI Raises Questions For Investors To Watch
• Positive Sentiment: CVS launched an AI health platform in partnership with Google Cloud, a strategic move that can accelerate digital services and pharmacy/clinic integration. CVS launches AI health platform with Google Cloud partnership
• Positive Sentiment: Barron’s published a bullish take arguing CVS is no longer a “value trap,” which can support investor sentiment and longer-term positioning despite near-term noise. CVS Earnings Are Coming. Why the Stock Is No Longer a Value Trap.
• Positive Sentiment: Steve Nelson, President of Aetna (a CVS company), was named to Health Catalyst’s board — a sign of CVS leadership visibility in health-tech partnerships and ecosystem influence. Health Catalyst Appoints Steve Nelson, President of Aetna, to Its Board of Directors
• Neutral Sentiment: Cigna’s exit from the ACA market and stronger-than-expected outlook for 2026 is industry news that could change exchange dynamics and PBM volumes — relevant but indirect for CVS. Cigna Exits Obamacare Market As PBM Profit Drops 28%
• Neutral Sentiment: Coverage of Viatris’s upcoming results and beat probability is being circulated (industry context for pharma supply/competitive backdrop). Viatris (VTRS) Earnings Expected to Grow: Should You Buy?
• Neutral Sentiment: Zacks and other sites note heightened investor interest/searches in CVS, which often precedes volatility around earnings and newsflow. Investors Heavily Search CVS Health Corporation (CVS): Here is What You Need to Know
• Negative Sentiment: Analyst previews from Zacks/Yahoo warn CVS may report a decline in earnings and lack the key setup for an earnings beat; that caution pressures the stock ahead of results. Analysts Estimate CVS Health (CVS) to Report a Decline in Earnings: What to Look Out for
• Negative Sentiment: A Zacks Q1 preview highlights benefits pressure and elevated costs — noting health services growth may offset but not fully eliminate margin risk this quarter. CVS Q1 Earnings Preview: Health Services Likely to Lead Performance

CVS Health Stock Performance

Shares of CVS Health stock opened at $83.44 on Friday. CVS Health Corporation has a fifty-two week low of $58.35 and a fifty-two week high of $85.15. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.84 and a quick ratio of 0.63. The firm has a market capitalization of $106.93 billion, a P/E ratio of 60.46, a P/E/G ratio of 0.88 and a beta of 0.51. The company's 50 day moving average price is $76.32 and its two-hundred day moving average price is $77.97.

CVS Health (NYSE:CVS - Get Free Report) last issued its earnings results on Tuesday, February 10th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.09. CVS Health had a net margin of 0.44% and a return on equity of 11.31%. The firm had revenue of $105.69 billion for the quarter, compared to analyst estimates of $103.67 billion. During the same quarter last year, the business posted $1.19 earnings per share. The company's quarterly revenue was up 8.2% on a year-over-year basis. CVS Health has set its FY 2026 guidance at 5.940-6.140 EPS. On average, equities analysts forecast that CVS Health Corporation will post 7.14 earnings per share for the current fiscal year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Stockholders of record on Thursday, April 23rd will be issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Thursday, April 23rd. CVS Health's payout ratio is 192.75%.

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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