CVS Health Co. Declares Quarterly Dividend of $0.55 (NYSE:CVS)

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 annualized dividend and a dividend yield of 2.20%.

CVS Health has increased its dividend payment by an average of 19.4% per year over the last three years and has raised its dividend every year for the last 1 years. CVS Health has a dividend payout ratio of 24.3% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of CVS Health stock opened at $99.83 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.91 and a quick ratio of 0.65. The business has a 50 day simple moving average of $100.14 and a two-hundred day simple moving average of $99.28. The stock has a market capitalization of $131.06 billion, a P/E ratio of 16.23, a PEG ratio of 1.52 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 posted its quarterly earnings data on Wednesday, August 3rd. The pharmacy operator reported $2.40 EPS for the quarter, beating the consensus estimate of $2.16 by $0.24. CVS Health had a return on equity of 15.19% and a net margin of 2.65%. The firm had revenue of $80.64 billion during the quarter, compared to the consensus estimate of $76.38 billion. During the same period in the prior year, the company earned $2.42 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. As a group, analysts predict that CVS Health will post 8.53 EPS for the current fiscal year.

Analyst Ratings Changes

CVS has been the subject of a number of recent research reports. Mizuho raised their target price on CVS Health from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, August 15th. UBS Group upped their price target on CVS Health from $118.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Credit Suisse Group raised their price objective on CVS Health from $113.00 to $117.00 and gave the stock an “outperform” rating in a research report on Monday, August 8th. Loop Capital initiated coverage on shares of CVS Health in a research report on Thursday, June 16th. They set a “buy” rating and a $120.00 price target for the company. Finally, Sanford C. Bernstein lowered shares of CVS Health from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $122.00 to $112.00 in a report on Thursday, May 26th. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.59.

Insider Transactions at CVS Health

In related news, EVP Alan Lotvin sold 22,541 shares of CVS Health stock in a transaction on Thursday, August 4th. The shares were 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 directly owns 109,183 shares in the company, valued at approximately $11,355,032. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other CVS Health news, EVP Alan Lotvin sold 22,541 shares of the business’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 value of $2,344,264.00. Following the completion of the sale, the executive vice president now owns 109,183 shares in the company, valued at $11,355,032. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Thomas M. Moriarty sold 138,654 shares of the company’s stock in a transaction on Tuesday, June 28th. The shares were 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 owns 626,273 shares of the company’s stock, valued at approximately $59,495,935. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On CVS Health

Institutional investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors purchased a new position in CVS Health during the 1st quarter worth $262,167,000. Orion Portfolio Solutions LLC lifted its holdings in shares of CVS Health by 18.1% in the 1st quarter. Orion Portfolio Solutions LLC now owns 14,912 shares of the pharmacy operator’s stock valued at $1,509,000 after buying an additional 2,286 shares during the period. Wealthfront Advisers LLC boosted its stake in shares of CVS Health by 13.2% in the first quarter. Wealthfront Advisers LLC now owns 87,610 shares of the pharmacy operator’s stock valued at $8,867,000 after buying an additional 10,220 shares in the last quarter. Weiss Multi Strategy Advisers LLC grew its holdings in CVS Health by 311.7% during the first quarter. Weiss Multi Strategy Advisers LLC now owns 58,170 shares of the pharmacy operator’s stock worth $5,887,000 after acquiring an additional 44,041 shares during the period. Finally, Continuum Advisory LLC purchased a new position in CVS Health in the first quarter worth $687,000. Institutional investors and hedge funds own 77.64% of the company’s stock.

About CVS Health

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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.

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Dividend History for CVS Health (NYSE:CVS)

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