Turtle Creek Asset Management Inc. Has $87.67 Million Stock Holdings in CVS Health Co. (NYSE:CVS)

Turtle Creek Asset Management Inc. lessened its holdings in CVS Health Co. (NYSE:CVS - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,952,991 shares of the pharmacy operator's stock after selling 144,676 shares during the period. CVS Health comprises about 2.3% of Turtle Creek Asset Management Inc.'s portfolio, making the stock its 24th largest holding. Turtle Creek Asset Management Inc. owned 0.15% of CVS Health worth $87,670,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new stake in shares of CVS Health during the fourth quarter valued at about $28,000. Hopwood Financial Services Inc. purchased a new position in CVS Health during the 4th quarter valued at about $29,000. Financial Perspectives Inc grew its position in CVS Health by 137.5% in the 4th quarter. Financial Perspectives Inc now owns 805 shares of the pharmacy operator's stock valued at $36,000 after acquiring an additional 466 shares in the last quarter. Compass Planning Associates Inc acquired a new stake in shares of CVS Health during the fourth quarter worth about $37,000. Finally, MidAtlantic Capital Management Inc. grew its holdings in shares of CVS Health by 112.1% in the fourth quarter. MidAtlantic Capital Management Inc. now owns 827 shares of the pharmacy operator's stock valued at $37,000 after purchasing an additional 437 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company's stock.

CVS Health Trading Up 0.1%

Shares of NYSE CVS traded up $0.07 during midday trading on Friday, hitting $60.29. The stock had a trading volume of 3,438,161 shares, compared to its average volume of 11,340,473. CVS Health Co. has a 1-year low of $43.56 and a 1-year high of $72.51. The company has a fifty day moving average price of $66.28 and a 200 day moving average price of $59.37. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $76.26 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 0.98 and a beta of 0.60.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.63. The firm had revenue of $94.59 billion during the quarter, compared to analysts' expectations of $93.07 billion. CVS Health had a net margin of 1.24% and a return on equity of 9.11%. The firm's revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.31 EPS. On average, analysts predict that CVS Health Co. will post 5.89 earnings per share for the current year.

CVS Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 22nd were issued a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Tuesday, April 22nd. CVS Health's dividend payout ratio (DPR) is 63.48%.

Insider Transactions at CVS Health

In other news, SVP James David Clark sold 7,513 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total transaction of $498,487.55. Following the completion of the sale, the senior vice president now owns 8,394 shares in the company, valued at approximately $556,941.90. This represents a 47.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.22% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Edward Jones raised shares of CVS Health from a "hold" rating to a "buy" rating in a research report on Thursday, January 30th. Piper Sandler increased their target price on shares of CVS Health from $72.00 to $74.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Royal Bank of Canada lifted their price objective on shares of CVS Health from $74.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Truist Financial increased their target price on CVS Health from $82.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, UBS Group upped their target price on shares of CVS Health from $67.00 to $71.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $74.94.

About CVS Health

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.