CVS Health Co. (CVS) to Issue Quarterly Dividend of $0.67 on May 1st

CVS Health Co. (NYSE:CVS) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Stockholders of record on Tuesday, April 22nd will be given a dividend of 0.665 per share by the pharmacy operator on Thursday, May 1st. This represents a $2.66 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Tuesday, April 22nd.

CVS Health has raised its dividend payment by an average of 10.0% per year over the last three years. CVS Health has a payout ratio of 38.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect CVS Health to earn $6.77 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 39.3%.

CVS Health Stock Down 2.1 %

Shares of NYSE:CVS opened at $67.22 on Friday. The firm has a market capitalization of $84.75 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The business has a 50 day simple moving average of $60.60 and a two-hundred day simple moving average of $57.34. CVS Health has a 1 year low of $43.56 and a 1 year high of $80.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.60.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.30. CVS Health had a return on equity of 9.11% and a net margin of 1.24%. On average, equities analysts predict that CVS Health will post 5.89 EPS for the current year.

Analyst Ratings Changes

CVS has been the subject of several research analyst reports. Leerink Partners raised shares of CVS Health from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $55.00 to $75.00 in a research note on Thursday, February 13th. Edward Jones raised CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Evercore ISI lifted their price objective on CVS Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Piper Sandler lifted their price objective on CVS Health from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a report on Tuesday, December 3rd. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $70.39.

Insider Buying and Selling

In other CVS Health news, Director Michael F. Mahoney acquired 30,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average price of $66.70 per share, for a total transaction of $2,001,000.00. Following the completion of the purchase, the director now directly owns 39,356 shares of the company’s stock, valued at $2,625,045.20. The trade was a 320.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James David Clark sold 7,513 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $66.35, for a total value of $498,487.55. Following the sale, the senior vice president now directly owns 8,394 shares in the company, valued at $556,941.90. This represents a 47.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

CVS Health Company Profile

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.