CVS Health Co. (NYSE:CVS) Plans Quarterly Dividend of $0.67

CVS Health Co. (NYSE:CVS) 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.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, May 1st. The pharmacy operator reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.38). The company had revenue of $88.44 billion for the quarter, compared to analyst estimates of $89.33 billion. CVS Health had a net margin of 2.03% and a return on equity of 13.53%. CVS Health’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.20 EPS. On average, sell-side analysts anticipate that CVS Health will post 7.02 earnings per share for the current fiscal year.

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.

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.