New York State Teachers Retirement System Lowers Stock Holdings in CVS Health Corporation $CVS

Key Points

• New York State Teachers Retirement System trimmed its stake in CVS by 3.5% in Q4, selling 36,607 shares and finishing the period with 1,018,066 shares worth about $80.8 million.
• CVS beat Q results with $1.09 EPS (vs. $1.00 expected) and $105.69B in revenue (+8.2% y/y), and Wall Street's consensus is a Moderate Buy (20 Buys, 3 Holds) with an average target of $95.05.
• The company announced a quarterly dividend of $0.665 (annualized $2.66, ~3.2% yield) despite a high payout ratio (192.75%), while pursuing strategic AI initiatives including a partnership with Google Cloud.

New York State Teachers Retirement System decreased its holdings in CVS Health Corporation (NYSE:CVS - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,018,066 shares of the pharmacy operator's stock after selling 36,607 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of CVS Health worth $80,794,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVS. Sei Investments Co. raised its position in CVS Health by 17.4% in the 2nd quarter. Sei Investments Co. now owns 905,715 shares of the pharmacy operator's stock valued at $62,474,000 after purchasing an additional 134,535 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in CVS Health by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,121,377 shares of the pharmacy operator's stock worth $77,353,000 after acquiring an additional 13,329 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in CVS Health by 1.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 585,073 shares of the pharmacy operator's stock worth $40,358,000 after acquiring an additional 7,588 shares in the last quarter. HUB Investment Partners LLC increased its position in shares of CVS Health by 25.0% in the 2nd quarter. HUB Investment Partners LLC now owns 15,063 shares of the pharmacy operator's stock valued at $1,039,000 after purchasing an additional 3,011 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of CVS Health by 8.0% in the 2nd quarter. Alliancebernstein L.P. now owns 1,609,404 shares of the pharmacy operator's stock valued at $111,017,000 after purchasing an additional 119,439 shares in the last quarter. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CVS. Piper Sandler lowered their target price on shares of CVS Health from $101.00 to $99.00 and set an "overweight" rating for the company in a research note on Tuesday, March 31st. Leerink Partners reiterated an "outperform" rating and issued a $98.00 price target on shares of CVS Health in a research note on Thursday, March 5th. Argus decreased their price target on shares of CVS Health from $91.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, January 28th. TD Cowen reissued a "buy" rating on shares of CVS Health in a research report on Friday, March 13th. Finally, Sanford C. Bernstein raised shares of CVS Health from a "market perform" rating to an "outperform" rating and upped their target price for the company from $91.00 to $94.00 in a report on Thursday, March 12th. Twenty research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, CVS Health has an average rating of "Moderate Buy" and a consensus target price of $95.05.

CVS Health Stock Performance

NYSE:CVS opened at $83.44 on Friday. 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 cap of $106.93 billion, a price-to-earnings ratio of 60.46, a price-to-earnings-growth ratio of 0.88 and a beta of 0.51. The firm's fifty day moving average price is $76.32 and its 200 day moving average price is $77.97. CVS Health Corporation has a 1-year low of $58.35 and a 1-year high of $85.15.

CVS Health (NYSE:CVS - Get Free Report) last released its 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. 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 during the quarter, compared to analysts' expectations of $103.67 billion. During the same quarter last year, the business earned $1.19 EPS. The business'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. On average, sell-side analysts expect that CVS Health Corporation will post 7.14 EPS for the current year.

CVS Health Announces Dividend

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

Key Headlines 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 Company 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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