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

CVS Health Co. (NYSE:CVS) declared a quarterly dividend on Friday, January 3rd,RTT News reports. Stockholders of record on Thursday, January 23rd will be paid a dividend of 0.665 per share by the pharmacy operator on Monday, February 3rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.81%.

CVS Health has raised its dividend payment by an average of 6.6% per year over the last three years. CVS Health has a payout ratio of 43.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect CVS Health to earn $6.22 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 42.8%.

CVS Health Stock Up 3.5 %

Shares of NYSE:CVS opened at $45.77 on Friday. The firm has a market cap of $57.60 billion, a P/E ratio of 11.62, a P/E/G ratio of 0.85 and a beta of 0.54. CVS Health has a 12-month low of $43.56 and a 12-month high of $83.25. The business has a fifty day simple moving average of $53.05 and a 200 day simple moving average of $57.21. The company has a quick ratio of 0.59, a current ratio of 0.80 and a debt-to-equity ratio of 0.80.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company had revenue of $95.43 billion for the quarter, compared to analyst estimates of $92.72 billion. During the same period in the previous year, the firm earned $2.21 earnings per share. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. Analysts predict that CVS Health will post 5.32 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Truist Financial reissued a “buy” rating and set a $67.00 target price (down previously from $76.00) on shares of CVS Health in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft raised CVS Health from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Tuesday, December 3rd. Mizuho cut their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Piper Sandler lowered their target price on CVS Health from $72.00 to $64.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Finally, Barclays cut their price target on CVS Health from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $69.12.

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.