CVS Health Co. (CVS) to Issue Quarterly Dividend of $0.55 on November 1st

CVS Health Co. (NYSE:CVSGet Rating) announced a quarterly dividend on Wednesday, September 21st, RTT News reports. Shareholders 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 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 dividend payout ratio of 24.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.1 %

Shares of CVS 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. CVS Health has a 1-year low of $81.78 and a 1-year high of $111.25. The company has a market capitalization of $131.06 billion, a P/E ratio of 16.23, a P/E/G ratio of 1.52 and a beta of 0.73. The firm’s 50 day simple moving average is $100.14 and its 200 day simple moving average is $99.28.

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

Insiders Place Their Bets

In related news, EVP Alan Lotvin sold 22,541 shares of CVS Health stock in a transaction dated 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 directly owns 109,183 shares in the company, valued at approximately $11,355,032. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Thomas M. Moriarty sold 138,654 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $95.00, for a total value of $13,172,130.00. Following the transaction, the executive vice president now owns 626,273 shares of the company’s stock, valued at $59,495,935. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alan Lotvin sold 22,541 shares of the 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 completion of the transaction, the executive vice president now owns 109,183 shares in the company, valued at $11,355,032. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company’s stock.

Institutional Trading of CVS Health

Several hedge funds have recently bought and sold shares of the stock. Worth Asset Management LLC bought a new position in shares of CVS Health during the 1st quarter valued at approximately $113,000. Certified Advisory Corp purchased a new stake in CVS Health in the 1st quarter worth $148,000. Zions Bancorporation N.A. raised its holdings in CVS Health by 116.9% during the first quarter. Zions Bancorporation N.A. now owns 2,572 shares of the pharmacy operator’s stock valued at $260,000 after acquiring an additional 1,386 shares during the period. West Michigan Advisors LLC lifted its position in shares of CVS Health by 18.4% in the first quarter. West Michigan Advisors LLC now owns 2,836 shares of the pharmacy operator’s stock valued at $287,000 after acquiring an additional 440 shares in the last quarter. Finally, First Western Trust Bank bought a new position in CVS Health in the 1st quarter worth approximately $301,000. Institutional investors own 77.64% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. UBS Group upped their target price on CVS Health from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Mizuho lifted their target price on shares of CVS Health from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, August 15th. Evercore ISI raised their price target on CVS Health from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 7th. Deutsche Bank Aktiengesellschaft increased their price objective on CVS Health from $113.00 to $120.00 in a research note on Thursday, August 4th. Finally, Sanford C. Bernstein cut shares of CVS Health from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $122.00 to $112.00 in a research report on Thursday, May 26th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CVS Health has an average rating of “Moderate Buy” and a consensus target price of $117.59.

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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