M&T Bank Corp Decreases Stock Position in CVS Health Corporation $CVS

Key Points

• M&T Bank reduced its CVS stake by 87.4% in Q4, selling 120,514 shares and retaining 17,311 shares valued at $1.374 million.
• Several large institutions (Wellington, Amundi, Capital Research, Arrowstreet) materially increased holdings in Q3 and institutional ownership is about 80.66%, while Hamlin Capital initiated a new ~$160.8 million stake in Q4.
• Analysts show a consensus "Moderate Buy" with a $95.05 target; CVS recently beat EPS estimates with revenue up 8.2%, set FY2026 EPS guidance, and pays a $0.665 quarterly dividend (3.2% yield) despite a very high 192.75% payout ratio.

M&T Bank Corp lessened its stake in CVS Health Corporation (NYSE:CVS - Free Report) by 87.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,311 shares of the pharmacy operator's stock after selling 120,514 shares during the period. M&T Bank Corp's holdings in CVS Health were worth $1,374,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CVS. Wellington Management Group LLP lifted its position in CVS Health by 391.6% in the 3rd quarter. Wellington Management Group LLP now owns 6,330,717 shares of the pharmacy operator's stock valued at $477,273,000 after acquiring an additional 5,042,816 shares in the last quarter. Amundi increased its stake in shares of CVS Health by 95.3% in the 3rd quarter. Amundi now owns 7,453,980 shares of the pharmacy operator's stock worth $572,665,000 after purchasing an additional 3,637,943 shares in the last quarter. Capital Research Global Investors increased its stake in shares of CVS Health by 24.5% in the 3rd quarter. Capital Research Global Investors now owns 11,469,250 shares of the pharmacy operator's stock worth $864,667,000 after purchasing an additional 2,253,531 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in CVS Health by 70.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,294,134 shares of the pharmacy operator's stock worth $399,125,000 after buying an additional 2,188,307 shares in the last quarter. Finally, Hamlin Capital Management LLC purchased a new stake in CVS Health in the 4th quarter worth $160,844,000. Hedge funds and other institutional investors own 80.66% of the company's stock.

Analysts Set New Price Targets

CVS has been the subject of several research reports. TD Cowen reissued a "buy" rating on shares of CVS Health in a report on Friday, March 13th. Bank of America decreased their price objective on shares of CVS Health from $100.00 to $95.00 and set a "buy" rating for the company in a research note on Tuesday, January 27th. Argus reduced 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. The Goldman Sachs Group raised their target price 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. Finally, Piper Sandler cut their price objective on shares of CVS Health from $101.00 to $99.00 and set an "overweight" rating on the stock in a report on Tuesday, March 31st. Twenty equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.05.

CVS Health Stock Up 3.4%

Shares of NYSE CVS opened at $83.72 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.63 and a debt-to-equity ratio of 0.80. The stock has a market cap of $107.29 billion, a PE ratio of 60.67, a P/E/G ratio of 0.82 and a beta of 0.51. The company has a 50-day moving average of $76.20 and a 200 day moving average of $77.94. CVS Health Corporation has a 12-month low of $58.35 and a 12-month high of $85.15.

CVS Health (NYSE:CVS - Get Free Report) last posted its earnings results on Tuesday, February 10th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. CVS Health had a net margin of 0.44% and a return on equity of 11.31%. The company had revenue of $105.69 billion for the quarter, compared to analyst estimates of $103.67 billion. During the same period in the previous year, the business posted $1.19 EPS. CVS Health's 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. As a group, sell-side analysts predict that CVS Health Corporation will post 7.14 EPS for the current fiscal year.

CVS Health Announces Dividend

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

Trending Headlines about CVS Health

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

• Positive Sentiment: CVS won industry awards for enterprise and customer‑experience AI, highlighting scalable AI use across retail and healthcare operations — a signal to investors that technology could drive efficiency and customer engagement gains. 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, which may accelerate product rollouts, data analytics, and customer‑facing services — a strategic tie that supports long‑term margin and service improvements. CVS launches AI health platform with Google Cloud partnership
• Positive Sentiment: Options and flow data show heavy call buying and unusual call activity ahead of CVS’s May earnings, indicating some investors are positioning bullishly for the outlook or guidance cadence. This can amplify upside moves into the report. Unusual Call Option Activity in CVS Ahead of Its Earnings Shows Investors are Bullish
• Positive Sentiment: CVS revamped its loyalty program with a two‑tier structure, which could improve customer retention and same‑store economics at retail pharmacies over time. CVS revamps loyalty program with two-tiered benefits
• Positive Sentiment: Sector tailwinds: CMS finalized a Medicare Advantage/Part D rate update that was better than feared for 2027, which supports Aetna’s medium‑term revenue outlook; CVS has previously reiterated mid‑term EPS targets and guidance that investors are watching. CVS rises as investors focus on earnings outlook and Medicare Advantage tailwinds
• Neutral Sentiment: Investor interest has spiked (search and attention metrics), and recent analyst coverage shows a cluster of buy/overweight ratings and mid‑$90s median price targets — supportive background but not new fundamental catalysts. Investors Heavily Search CVS Health Corporation (CVS): Here is What You Need to Know
• Neutral Sentiment: Corporate hires and security leadership changes were announced (new security chief), a routine governance update with limited immediate revenue impact. CVS taps former Sutter Health executive as security chief
• Negative Sentiment: Analysts expect a decline in near‑term earnings for the upcoming quarter, and Zacks previews suggest CVS may lack the mix for an earnings beat — a potential headwind that could cap upside if the print confirms weaker margins or PBM dynamics. Analysts Estimate CVS Health (CVS) to Report a Decline in Earnings: What to Look Out for

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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