12 Highest Dividend Stocks to Buy on Cash App

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5. CVS Health Corporation (NYSE:CVS)

Dividend Yield as of January 21: 5.01%

CVS Health Corporation (NYSE:CVS) is an American health solutions company that provides advanced health care from pharmacy services and health plans to health and wellness. The stock has seen strong performance in 2025, with a growth of over 20% since the beginning of the year. However, the stock has dropped more than 28% over the past year. The primary reason for this decline is underperformance in its Pharmacy and Consumer Wellness division, where the expected benefits from integrating this segment with its health services have not yet been realized. The division’s adjusted operating income has fallen from $7.26 billion in 2021 to an expected range of $5.70-$5.75 billion in 2024. Moreover, front-store revenue is anticipated to decline by 6.2%, and the online segment faces increasing competition from major companies like Amazon.

That said, CVS Health Corporation (NYSE:CVS) reported strong earnings in the third quarter of 2024, with revenue reaching $95.4 billion, reflecting a year-over-year growth of more than 6.3%. This positive performance was primarily fueled by the strong results in the Health Services and Pharmacy & Consumer Wellness divisions.

In addition, CVS Health Corporation (NYSE:CVS) also reported a strong cash position that would balance out the struggles it is facing. In the first nine months of the year, the company generated an operating cash flow of $7.2 billion. It ended the quarter with $6.9 billion available in cash and cash equivalents. Due to this cash generation, the company has paid regular dividends to shareholders since 1997. It pays a quarterly dividend of $0.665 per share and has a dividend yield of 5.01%, as of January 21.

The number of hedge funds tracked by Insider Monkey owning stakes in CVS Health Corporation (NYSE:CVS) grew to 63 in Q3 2024, from 60 in the previous quarter. These stakes are collectively valued at over $4.2 billion. Among these hedge funds, Pzena Investment Management was the company’s leading stakeholder in Q3.

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