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

CVS Health Co. (NYSE:CVS - Get Free Report) announced a quarterly dividend on Friday, January 3rd,RTT News reports. Investors of record on Thursday, January 23rd will be given a dividend of 0.665 per share by the pharmacy operator on Monday, February 3rd. This represents a $2.66 dividend on an annualized basis and a dividend yield of 5.81%.

CVS Health has increased its dividend by an average of 6.6% per year over the last three years. CVS Health has a dividend payout ratio of 43.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect CVS Health to earn $6.22 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 42.8%.

CVS Health Price Performance

Shares of NYSE CVS traded up $1.55 during midday trading on Friday, reaching $45.77. 12,190,802 shares of the stock traded hands, compared to its average volume of 11,408,451. CVS Health has a one year low of $43.56 and a one year high of $83.25. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The company's 50 day moving average is $53.05 and its 200 day moving average is $57.21. The stock has a market capitalization of $57.60 billion, a PE ratio of 11.62, a P/E/G ratio of 0.85 and a beta of 0.54.

CVS Health (NYSE:CVS - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion for the quarter, compared to analysts' expectations of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.21 earnings per share. On average, equities research analysts anticipate that CVS Health will post 5.32 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on CVS. TD Cowen increased their target price on shares of CVS Health from $73.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised shares of CVS Health from a "hold" rating to a "buy" rating and set a $66.00 price target on the stock in a research note on Tuesday, December 3rd. Evercore ISI boosted their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an "outperform" rating in a research report on Tuesday, October 8th. Barclays reduced their target price on shares of CVS Health from $75.00 to $71.00 and set an "overweight" rating on the stock in a research report on Thursday, November 7th. Finally, Mizuho dropped their price target on CVS Health from $73.00 to $66.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, CVS Health has a consensus rating of "Moderate Buy" and a consensus target price of $69.12.

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.