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

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 paid 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 3.87%.

CVS Health has raised its dividend 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. 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 Trading Up 1.2 %

NYSE:CVS opened at $68.71 on Friday. CVS Health has a 52 week low of $43.56 and a 52 week high of $80.75. The firm has a 50-day moving average price of $60.22 and a two-hundred day moving average price of $57.28. The firm has a market cap of $86.63 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.60 and a current ratio of 0.81.

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

Wall Street Analyst Weigh In

Several research firms recently commented on CVS. Cantor Fitzgerald upgraded CVS Health from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 12th. Truist Financial raised their target price on shares of CVS Health from $60.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Thursday, January 30th. Barclays upped their target price on shares of CVS Health from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, TD Cowen raised their price target on CVS Health from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and an average target price of $69.83.

Insider Activity

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

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.