CVS Health Corporation (NYSE:CVS) to Issue Quarterly Dividend of $0.67

CVS Health Corporation (NYSE:CVS - Get Free Report) declared a quarterly dividend on Monday, July 7th, RTT News reports. Shareholders of record on Tuesday, July 22nd will be paid a dividend of 0.665 per share by the pharmacy operator on Friday, August 1st. This represents a $2.66 annualized dividend and a yield of 4.00%.

CVS Health has a dividend payout ratio of 37.7% 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 Stock Performance

NYSE CVS traded down $0.89 during trading on Monday, hitting $66.54. The company's stock had a trading volume of 494,256 shares, compared to its average volume of 10,810,831. CVS Health has a 52 week low of $43.56 and a 52 week high of $72.51. The firm has a market cap of $84.18 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 0.97 and a beta of 0.57. The firm has a 50 day moving average price of $65.11 and a 200 day moving average price of $61.71. The company has a quick ratio of 0.63, a current ratio of 0.82 and a debt-to-equity ratio of 0.77.

CVS Health (NYSE:CVS - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The pharmacy operator reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.63. CVS Health had a return on equity of 10.59% and a net margin of 1.39%. The company had revenue of $94.59 billion for the quarter, compared to analyst estimates of $93.07 billion. During the same quarter last year, the firm earned $1.31 EPS. CVS Health's revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts forecast that CVS Health will post 5.89 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Guy P. Sansone purchased 1,570 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were acquired at an average price of $63.70 per share, with a total value of $100,009.00. Following the completion of the purchase, the director directly owned 12,007 shares of the company's stock, valued at $764,845.90. The trade was a 15.04% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CVS has been the topic of several recent research reports. Wall Street Zen raised CVS Health from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Truist Financial boosted their price target on CVS Health from $82.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Piper Sandler boosted their price target on CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Cowen reaffirmed a "buy" rating on shares of CVS Health in a research note on Monday, May 5th. Finally, Barclays set a $79.00 price target on CVS Health and gave the company an "overweight" rating in a research note on Monday, June 2nd. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.06.

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.

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