CVS Health Corp (NYSE:CVS) announced a quarterly dividend on Friday, December 29th, RTT News reports. Investors of record on Wednesday, January 24th will be given a dividend of 0.50 per share by the pharmacy operator on Friday, February 2nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Tuesday, January 23rd.
CVS Health has raised its dividend payment by an average of 22.1% per year over the last three years and has raised its dividend annually for the last 10 consecutive years. CVS Health has a dividend payout ratio of 34.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect CVS Health to earn $6.38 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 31.3%.
Shares of CVS Health (NYSE CVS) opened at $78.78 on Friday. CVS Health has a 52 week low of $66.45 and a 52 week high of $84.72. The company has a quick ratio of 0.55, a current ratio of 1.05 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $79,800.00, a P/E ratio of 16.28, a P/E/G ratio of 1.25 and a beta of 0.90.
CVS Health (NYSE:CVS) last posted its earnings results on Monday, November 6th. The pharmacy operator reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.01. CVS Health had a return on equity of 16.96% and a net margin of 2.77%. The firm had revenue of $46.18 billion for the quarter, compared to analyst estimates of $46.17 billion. During the same quarter in the prior year, the company earned $1.64 EPS. CVS Health’s revenue was up 3.5% on a year-over-year basis. equities analysts forecast that CVS Health will post 5.89 earnings per share for the current year.
In related news, EVP Lisa Bisaccia sold 29,445 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $75.00, for a total value of $2,208,375.00. Following the completion of the sale, the executive vice president now directly owns 15,556 shares in the company, valued at approximately $1,166,700. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Fieldpoint Private Securities LLC grew its stake in shares of CVS Health by 333.3% during the second quarter. Fieldpoint Private Securities LLC now owns 1,300 shares of the pharmacy operator’s stock valued at $105,000 after acquiring an additional 1,000 shares in the last quarter. Optimum Investment Advisors grew its stake in shares of CVS Health by 20.0% during the second quarter. Optimum Investment Advisors now owns 3,444 shares of the pharmacy operator’s stock valued at $277,000 after acquiring an additional 573 shares in the last quarter. Bluefin Trading LLC acquired a new stake in shares of CVS Health during the second quarter valued at about $298,000. Keel Point LLC grew its stake in shares of CVS Health by 16.0% during the second quarter. Keel Point LLC now owns 3,824 shares of the pharmacy operator’s stock valued at $308,000 after acquiring an additional 528 shares in the last quarter. Finally, Wafra Investment Advisory Group Inc. NY acquired a new stake in shares of CVS Health during the second quarter valued at about $507,000. Institutional investors own 81.62% of the company’s stock.
A number of research analysts have weighed in on CVS shares. Robert W. Baird reissued a “hold” rating and set a $77.00 price target on shares of CVS Health in a research note on Friday, October 27th. Needham & Company LLC raised CVS Health from a “hold” rating to a “buy” rating and increased their price target for the stock from $69.02 to $79.00 in a research note on Friday, November 10th. Deutsche Bank reissued a “hold” rating on shares of CVS Health in a research note on Tuesday, December 5th. Mizuho set a $90.00 price target on CVS Health and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Finally, Raymond James Financial reaffirmed a “buy” rating on shares of CVS Health in a research report on Monday, December 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $86.66.
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CVS Health Company Profile
CVS Health Corporation, together with its subsidiaries, is an integrated pharmacy healthcare company. The Company provides pharmacy care for the senior community through Omnicare, Inc (Omnicare) and Omnicare’s long-term care (LTC) operations, which include distribution of pharmaceuticals, related pharmacy consulting and other ancillary services to chronic care facilities and other care settings.
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