State Street Corp Boosts Stake in CVS Health Corporation $CVS

Key Points

• State Street increased its CVS Health stake by 26.3% in the second quarter, adding 15.6 million shares to own approximately 5.86% of the company. Institutional investors collectively hold 80.66% of CVS shares.
• CVS Health reported quarterly earnings of $2.58 per share, surpassing the $1.87 consensus estimate, while revenue rose 7.3% year over year to $106.1 billion. The company maintained fiscal 2026 EPS guidance of $7.90–$8.10.
• The stock was recently trading near $87.73 and pays a quarterly dividend of $0.665, representing a 3.0% annualized yield. Analysts remain broadly bullish, with a “Moderate Buy” consensus and an average price target of $107.24.

State Street Corp lifted its holdings in shares of CVS Health Corporation (NYSE:CVS - Free Report) by 26.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 74,927,064 shares of the pharmacy operator's stock after purchasing an additional 15,604,883 shares during the quarter. State Street Corp owned about 5.86% of CVS Health worth $7,751,205,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of CVS Health in the 2nd quarter valued at approximately $12,747,462,000. Wellington Management Group LLP increased its holdings in CVS Health by 49.8% in the 2nd quarter. Wellington Management Group LLP now owns 33,801,113 shares of the pharmacy operator's stock valued at $3,496,725,000 after purchasing an additional 11,233,381 shares during the last quarter. Capital International Investors raised its position in CVS Health by 3.4% in the fourth quarter. Capital International Investors now owns 27,592,356 shares of the pharmacy operator's stock valued at $2,189,793,000 after purchasing an additional 900,153 shares during the period. Bank of America Corp DE lifted its stake in CVS Health by 148.0% during the second quarter. Bank of America Corp DE now owns 23,188,670 shares of the pharmacy operator's stock worth $2,398,868,000 after purchasing an additional 13,836,701 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of CVS Health during the fourth quarter worth $1,666,265,000. 80.66% of the stock is currently owned by hedge funds and other institutional investors.

CVS Health Stock Up 0.1%

Shares of NYSE CVS traded up $0.13 during mid-day trading on Tuesday, reaching $87.73. The company had a trading volume of 2,853,360 shares, compared to its average volume of 8,212,691. CVS Health Corporation has a 52-week low of $69.51 and a 52-week high of $110.68. The stock has a market cap of $112.21 billion, a P/E ratio of 23.19, a PEG ratio of 0.87 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 firm has a 50 day simple moving average of $98.42 and a two-hundred day simple moving average of $91.42.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The pharmacy operator reported $2.58 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.71. CVS Health had a return on equity of 13.12% and a net margin of 1.18%.The business had revenue of $106.10 billion during the quarter, compared to the consensus estimate of $100.03 billion. During the same period in the prior year, the company earned $1.81 earnings per share. The company's revenue was up 7.3% compared to the same quarter last year. CVS Health has set its FY 2026 guidance at 7.900-8.100 EPS. Sell-side analysts predict that CVS Health Corporation will post 8.02 earnings per share for the current year.

CVS Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Thursday, July 23rd were paid a $0.665 dividend. This represents a $2.66 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Thursday, July 23rd. CVS Health's dividend payout ratio (DPR) is presently 70.37%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CVS shares. Sanford C. Bernstein reissued an "outperform" rating and set a $112.00 target price on shares of CVS Health in a research note on Wednesday, September 9th. Weiss Ratings upgraded shares of CVS Health from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, August 5th. Cantor Fitzgerald reissued an "overweight" rating on shares of CVS Health in a research note on Friday, September 11th. Truist Financial upped their target price on shares of CVS Health from $108.00 to $118.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada increased their target price on shares of CVS Health from $107.00 to $113.00 and gave the stock an "outperform" rating in a report on Thursday, July 9th. Twenty-two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $107.24.

About CVS Health

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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