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

CVS Health Corporation (NYSE:CVS - Get Free Report) announced a quarterly dividend on Monday, July 7th, RTT News reports. Investors 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 3.99%.

CVS Health has a payout ratio of 37.7% meaning its dividend is sufficiently covered by earnings. Equities 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

Shares of NYSE CVS traded down $0.75 during trading on Monday, reaching $66.68. 6,418,905 shares of the company traded hands, compared to its average volume of 10,833,454. The firm has a 50 day simple moving average of $65.11 and a 200-day simple moving average 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. The stock has a market capitalization of $84.35 billion, a PE ratio of 15.91, a P/E/G ratio of 0.97 and a beta of 0.57. CVS Health has a 52-week low of $43.56 and a 52-week high of $72.51.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on CVS. Morgan Stanley restated an "overweight" rating on shares of CVS Health in a research note on Tuesday, April 15th. Barclays set a $79.00 target price on shares of CVS Health and gave the stock an "overweight" rating in a research note on Monday, June 2nd. Robert W. Baird raised their target price on shares of CVS Health from $51.00 to $71.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 15th. Jefferies Financial Group lifted their price objective on shares of CVS Health from $74.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Finally, Piper Sandler lifted their price objective on shares of CVS Health from $72.00 to $74.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $75.06.

Insider Buying and Selling

In other news, Director Guy P. Sansone acquired 1,570 shares of the company's stock in a transaction on Thursday, June 5th. The stock was bought at an average cost 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. This represents a 15.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.22% of the stock is 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.