The CVS Health Corporation (CVS) to Issue Quarterly Dividend of $0.50 on February 2nd

The CVS Health Corporation (CVS) to Issue Quarterly Dividend of $0.50 on  February 2nd

CVS Health Corporation (NYSE:CVS) announced a quarterly dividend on Thursday, December 22nd. Shareholders of record on Tuesday, January 24th will be given a dividend of 0.50 per share by the pharmacy operator on Thursday, February 2nd. This represents a $2.00 annualized dividend and a yield of 2.39%. The ex-dividend date is Friday, January 20th. This is a positive change from CVS Health Corporation’s previous quarterly dividend of $0.43.

Shares of CVS Health Corporation (NYSE:CVS) opened at 83.54 on Thursday. The company has a market capitalization of $89.09 billion, a P/E ratio of 17.90 and a beta of 0.84. The firm has a 50-day moving average of $79.92 and a 200 day moving average of $87.23. CVS Health Corporation has a 52-week low of $69.30 and a 52-week high of $106.67.

CVS Health Corporation (NYSE:CVS) last issued its earnings results on Tuesday, November 8th. The pharmacy operator reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.07. The company had revenue of $44.60 billion for the quarter, compared to analyst estimates of $45.29 billion. CVS Health Corporation had a net margin of 2.96% and a return on equity of 17.18%. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 EPS. On average, analysts anticipate that CVS Health Corporation will post $5.81 EPS for the current year.

Several hedge funds have recently bought and sold shares of the stock. Argent Trust Co increased its stake in CVS Health Corporation by 3.5% in the second quarter. Argent Trust Co now owns 15,209 shares of the pharmacy operator’s stock worth $1,456,000 after buying an additional 521 shares during the period. Columbia Partners L L C Investment Management increased its stake in CVS Health Corporation by 1.3% in the second quarter. Columbia Partners L L C Investment Management now owns 31,254 shares of the pharmacy operator’s stock worth $2,992,000 after buying an additional 391 shares during the period. Highlander Capital Management LLC increased its stake in CVS Health Corporation by 38.1% in the second quarter. Highlander Capital Management LLC now owns 2,900 shares of the pharmacy operator’s stock worth $278,000 after buying an additional 800 shares during the period. Beaumont Financial Partners LLC increased its stake in CVS Health Corporation by 18.4% in the second quarter. Beaumont Financial Partners LLC now owns 60,312 shares of the pharmacy operator’s stock worth $5,774,000 after buying an additional 9,393 shares during the period. Finally, IPG Investment Advisors LLC increased its stake in CVS Health Corporation by 8.3% in the second quarter. IPG Investment Advisors LLC now owns 6,500 shares of the pharmacy operator’s stock worth $622,000 after buying an additional 500 shares during the period. Institutional investors own 80.32% of the company’s stock.

Several research analysts recently weighed in on the stock. Oppenheimer Holdings, Inc. set a $88.00 price objective on shares of CVS Health Corporation and gave the stock a “buy” rating in a research note on Sunday, December 18th. Leerink Swann reissued a “buy” rating and set a $105.00 price objective on shares of CVS Health Corporation in a research note on Wednesday, November 9th. Barclays PLC reissued a “buy” rating and set a $85.00 price objective on shares of CVS Health Corporation in a research note on Wednesday, November 9th. Vetr lowered shares of CVS Health Corporation from a “buy” rating to a “hold” rating and set a $82.61 price objective on the stock. in a research note on Tuesday, January 3rd. Finally, Guggenheim reissued a “buy” rating and set a $90.00 price objective (down previously from $115.00) on shares of CVS Health Corporation in a research note on Tuesday, November 8th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $101.77.

About CVS Health Corporation

CVS Health Corporation, together with its subsidiaries (CVS Health), is a pharmacy company. The Company operates through three business segments: Pharmacy Services, Retail/LTC and Corporate. The Company offers a range of products and services, such as advising patients on their medications at its CVS Pharmacy locations, introducing programs to help control costs for its clients at CVS Caremark, how care is delivered to its patients with conditions through CVS Specialty, pharmacy care for the senior community through Omnicare.

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