CVS Health Co. (NYSE:CVS – Get Free Report) declared a quarterly dividend on Monday, July 8th, RTT News reports. Shareholders of record on Monday, July 22nd will be paid a dividend of 0.665 per share by the pharmacy operator on Thursday, August 1st. This represents a $2.66 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend is Monday, July 22nd.
CVS Health has increased its dividend payment by an average of 6.6% annually over the last three years. CVS Health has a dividend payout ratio of 34.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect CVS Health to earn $7.76 per share next year, which means the company should continue to be able to cover its $2.66 annual dividend with an expected future payout ratio of 34.3%.
CVS Health Stock Performance
Shares of CVS opened at $59.57 on Friday. CVS Health has a 52-week low of $52.77 and a 52-week high of $83.25. The firm has a market capitalization of $74.78 billion, a PE ratio of 10.47, a P/E/G ratio of 0.57 and a beta of 0.52. The firm has a 50-day moving average price of $58.64 and a 200 day moving average price of $68.23. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.
Insider Activity
In related news, Director Edward J. Ludwig acquired 1,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were bought at an average cost of $53.88 per share, for a total transaction of $53,880.00. Following the purchase, the director now owns 21,630 shares in the company, valued at approximately $1,165,424.40. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.24% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of brokerages have recently commented on CVS. Mizuho cut their price objective on CVS Health from $86.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. SVB Leerink reissued a “market perform” rating and issued a $60.00 price target (down previously from $87.00) on shares of CVS Health in a research note on Wednesday, May 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $58.00 price objective on shares of CVS Health in a research note on Wednesday, June 12th. Truist Financial reaffirmed a “buy” rating and issued a $66.00 price target (down from $90.00) on shares of CVS Health in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lowered their target price on CVS Health from $101.00 to $86.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.05.
Read Our Latest Stock Report on CVS
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.
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