CVS Health Corp (NYSE:CVS) announced a quarterly dividend on Tuesday, March 13th, RTT News reports. Investors of record on Monday, April 23rd will be paid a dividend of 0.50 per share by the pharmacy operator on Thursday, May 3rd. This represents a $2.00 annualized dividend and a yield of 2.97%.
CVS Health has increased its dividend by an average of 22.1% annually over the last three years and has increased its dividend every year for the last 10 years. CVS Health has a payout ratio of 34.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect CVS Health to earn $6.74 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 29.7%.
Shares of CVS Health (NYSE CVS) traded down $0.86 during trading on Wednesday, reaching $67.39. The company had a trading volume of 2,025,492 shares, compared to its average volume of 8,640,459. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.52 and a current ratio of 1.02. The company has a market capitalization of $68,430.00, a price-to-earnings ratio of 10.43, a P/E/G ratio of 1.14 and a beta of 1.03. CVS Health has a 1 year low of $66.45 and a 1 year high of $84.00.
In other CVS Health news, EVP Lisa Bisaccia sold 29,445 shares of the company’s stock in a transaction that occurred 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 $1,166,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Helena Foulkes sold 19,965 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $71.04, for a total value of $1,418,313.60. Following the completion of the sale, the executive vice president now owns 65,072 shares of the company’s stock, valued at $4,622,714.88. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bluefin Trading LLC acquired a new stake in shares of CVS Health during the 2nd quarter valued at $298,000. Bontempo Ohly Capital Mgmt LLC lifted its position in shares of CVS Health by 0.5% during the 2nd quarter. Bontempo Ohly Capital Mgmt LLC now owns 21,830 shares of the pharmacy operator’s stock valued at $1,756,000 after acquiring an additional 109 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new stake in CVS Health during the 2nd quarter valued at $3,355,000. Janus Henderson Group PLC raised its stake in CVS Health by 27.8% during the 2nd quarter. Janus Henderson Group PLC now owns 731,766 shares of the pharmacy operator’s stock valued at $58,894,000 after purchasing an additional 159,008 shares during the period. Finally, Shelton Capital Management acquired a new stake in CVS Health during the 2nd quarter valued at $3,563,000. Hedge funds and other institutional investors own 84.12% of the company’s stock.
CVS has been the subject of several research analyst reports. Jefferies Group set a $76.00 price objective on CVS Health and gave the company a “hold” rating in a report on Monday, December 4th. Robert W. Baird lowered their target price on CVS Health from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, February 9th. ValuEngine lowered CVS Health from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Vetr lowered CVS Health from a “buy” rating to a “hold” rating and set a $77.11 target price for the company. in a report on Thursday, January 4th. Finally, Royal Bank of Canada set a $95.00 target price on CVS Health and gave the company a “buy” rating in a report on Monday, December 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $87.03.
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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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