Pfizer Inc. (PFE) to Issue Quarterly Dividend of $0.43 on March 7th

Pfizer Inc. (NYSE:PFE) announced a quarterly dividend on Thursday, December 12th,RTT News reports. Shareholders of record on Friday, January 24th will be given a dividend of 0.43 per share by the biopharmaceutical company on Friday, March 7th. This represents a $1.72 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42.

Pfizer has increased its dividend payment by an average of 2.5% per year over the last three years and has raised its dividend every year for the last 16 years. Pfizer has a payout ratio of 57.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Pfizer to earn $2.93 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 58.7%.

Pfizer Price Performance

Shares of Pfizer stock opened at $26.63 on Wednesday. The business’s 50-day moving average price is $26.08 and its 200-day moving average price is $27.98. The firm has a market capitalization of $150.89 billion, a PE ratio of 35.98, a price-to-earnings-growth ratio of 0.63 and a beta of 0.64. Pfizer has a 12 month low of $24.48 and a 12 month high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. The firm had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business’s revenue was up 31.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) earnings per share. Sell-side analysts forecast that Pfizer will post 2.94 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on PFE shares. Truist Financial dropped their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Bank of America reiterated a “neutral” rating and set a $29.00 target price on shares of Pfizer in a report on Tuesday, December 10th. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Wolfe Research initiated coverage on Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective for the company. Finally, Evercore ISI raised Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $282,400. The trade was a 11.11 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.