CVS Health Co. (NYSE:CVS) to Issue $0.55 Quarterly Dividend

CVS Health Co. (NYSE:CVSGet Rating) declared a quarterly dividend on Wednesday, September 21st, RTT News reports. Investors of record on Friday, October 21st will be given a dividend of 0.55 per share by the pharmacy operator on Tuesday, November 1st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.21%.

CVS Health has increased its dividend by an average of 19.4% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. CVS Health has a payout ratio of 24.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect CVS Health to earn $9.21 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 23.9%.

CVS Health Stock Performance

CVS Health stock opened at $99.77 on Thursday. The stock has a 50-day simple moving average of $100.00 and a 200 day simple moving average of $99.31. The company has a quick ratio of 0.65, a current ratio of 0.91 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $130.98 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 1.54 and a beta of 0.73. CVS Health has a 12-month low of $81.78 and a 12-month high of $111.25.

CVS Health (NYSE:CVSGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The pharmacy operator reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.24. The firm had revenue of $80.64 billion during the quarter, compared to analyst estimates of $76.38 billion. CVS Health had a return on equity of 15.19% and a net margin of 2.65%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the company earned $2.42 earnings per share. On average, research analysts anticipate that CVS Health will post 8.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CVS has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on CVS Health from $113.00 to $120.00 in a research report on Thursday, August 4th. Credit Suisse Group boosted their target price on CVS Health from $113.00 to $117.00 and gave the stock an “outperform” rating in a research report on Monday, August 8th. Evercore ISI boosted their target price on CVS Health from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 7th. Loop Capital began coverage on CVS Health in a research report on Thursday, June 16th. They set a “buy” rating and a $120.00 target price for the company. Finally, Mizuho boosted their target price on CVS Health from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, August 15th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $117.59.

Insider Transactions at CVS Health

In other news, EVP Alan Lotvin sold 22,541 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $104.00, for a total transaction of $2,344,264.00. Following the sale, the executive vice president now owns 109,183 shares in the company, valued at approximately $11,355,032. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Thomas M. Moriarty sold 138,654 shares of the company’s stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $95.00, for a total transaction of $13,172,130.00. Following the completion of the sale, the executive vice president now directly owns 626,273 shares in the company, valued at approximately $59,495,935. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Alan Lotvin sold 22,541 shares of the company’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $104.00, for a total value of $2,344,264.00. Following the sale, the executive vice president now owns 109,183 shares of the company’s stock, valued at $11,355,032. The disclosure for this sale can be found here. Company insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On CVS Health

Several large investors have recently bought and sold shares of the company. Weik Capital Management raised its position in CVS Health by 0.7% in the first quarter. Weik Capital Management now owns 17,600 shares of the pharmacy operator’s stock valued at $1,781,000 after purchasing an additional 120 shares during the last quarter. FCA Corp TX raised its position in shares of CVS Health by 0.6% during the first quarter. FCA Corp TX now owns 20,109 shares of the pharmacy operator’s stock worth $2,035,000 after acquiring an additional 122 shares during the last quarter. Dempze Nancy E raised its position in shares of CVS Health by 1.7% during the first quarter. Dempze Nancy E now owns 18,871 shares of the pharmacy operator’s stock worth $1,910,000 after acquiring an additional 307 shares during the last quarter. Kinneret Advisory LLC raised its position in shares of CVS Health by 2.3% during the first quarter. Kinneret Advisory LLC now owns 14,649 shares of the pharmacy operator’s stock worth $1,483,000 after acquiring an additional 328 shares during the last quarter. Finally, KCM Investment Advisors LLC raised its position in shares of CVS Health by 1.7% during the first quarter. KCM Investment Advisors LLC now owns 20,232 shares of the pharmacy operator’s stock worth $2,048,000 after acquiring an additional 331 shares during the last quarter. 77.64% of the stock is currently owned by institutional investors.

About CVS Health

(Get Rating)

CVS Health Corporation provides health services in the United States. The company's Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services. It serves employer groups, individuals, college students, part-time and hourly workers, health plans, health care providers, governmental units, government-sponsored plans, labor groups, and expatriates.

See Also

Dividend History for CVS Health (NYSE:CVS)

Receive News & Ratings for CVS Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVS Health and related companies with MarketBeat.com's FREE daily email newsletter.