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

CVS Health Co. (NYSE:CVS) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Investors 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 yield of 3.96%. The ex-dividend date is Tuesday, April 22nd.

CVS Health has raised its dividend by an average of 10.0% annually over the last three years. CVS Health has a dividend payout ratio of 38.8% indicating that its dividend is sufficiently covered by earnings. 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 Down 2.1 %

CVS stock opened at $67.22 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 0.80. The business’s 50-day moving average is $60.60 and its 200 day moving average is $57.34. The stock has a market cap of $84.75 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 0.98 and a beta of 0.54. CVS Health has a 12-month low of $43.56 and a 12-month high of $80.75.

CVS Health (NYSE:CVS) last issued its quarterly earnings results on Wednesday, February 12th. The pharmacy operator reported $1.19 earnings per share (EPS) for the quarter, topping 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, sell-side analysts anticipate that CVS Health will post 5.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CVS shares. Wells Fargo & Company boosted their price target on shares of CVS Health from $68.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Leerink Partnrs raised shares of CVS Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 12th. Argus set a $77.00 price target on shares of CVS Health in a research report on Tuesday, February 18th. Edward Jones upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a report on Thursday, January 30th. Finally, Wolfe Research boosted their target price on shares of CVS Health from 67.00 to 70.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.39.

Insider Buying and Selling at CVS Health

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