Pfizer Inc. (NYSE:PFE) Plans $0.40 Quarterly Dividend

Pfizer Inc. (NYSE:PFEGet Rating) announced a quarterly dividend on Thursday, September 22nd, RTT News reports. Shareholders of record on Friday, November 4th will be paid a dividend of 0.40 per share by the biopharmaceutical company on Monday, December 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.64%.

Pfizer has raised its dividend by an average of 4.4% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Pfizer has a dividend payout ratio of 30.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Pfizer to earn $5.37 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 29.8%.

Pfizer Price Performance

Shares of NYSE PFE opened at $43.92 on Thursday. The company has a current ratio of 1.42, a quick ratio of 1.20 and a debt-to-equity ratio of 0.39. Pfizer has a twelve month low of $40.94 and a twelve month high of $61.71. The stock has a 50 day moving average of $48.53 and a two-hundred day moving average of $50.36. The stock has a market cap of $246.49 billion, a P/E ratio of 8.59, a P/E/G ratio of 0.55 and a beta of 0.70.

Pfizer (NYSE:PFEGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.09. Pfizer had a return on equity of 43.18% and a net margin of 28.92%. The company had revenue of $27.74 billion during the quarter, compared to analysts’ expectations of $26.20 billion. During the same quarter in the previous year, the business earned $1.07 earnings per share. The firm’s revenue for the quarter was up 46.8% on a year-over-year basis. On average, research analysts forecast that Pfizer will post 6.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

PFE has been the subject of several analyst reports. Berenberg Bank set a $44.00 price target on Pfizer in a research note on Wednesday, September 14th. UBS Group set a $59.00 price objective on Pfizer in a report on Thursday, September 1st. The Goldman Sachs Group set a $50.00 price objective on Pfizer in a report on Thursday, September 1st. JPMorgan Chase & Co. set a $57.00 price objective on Pfizer in a report on Tuesday, June 28th. Finally, SVB Leerink dropped their price objective on Pfizer from $55.00 to $53.00 and set a “market perform” rating on the stock in a report on Friday, July 29th. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and an average target price of $57.00.

Institutional Trading of Pfizer

Several hedge funds have recently made changes to their positions in the stock. Worth Asset Management LLC bought a new stake in Pfizer during the 1st quarter valued at $29,000. Red Wave Investments LLC raised its stake in shares of Pfizer by 33.6% in the 1st quarter. Red Wave Investments LLC now owns 5,124 shares of the biopharmaceutical company’s stock worth $265,000 after buying an additional 1,288 shares in the last quarter. Front Street Capital Management Inc. raised its stake in shares of Pfizer by 4.3% in the 1st quarter. Front Street Capital Management Inc. now owns 5,168 shares of the biopharmaceutical company’s stock worth $268,000 after buying an additional 215 shares in the last quarter. Cowa LLC raised its stake in shares of Pfizer by 8,655.7% in the 1st quarter. Cowa LLC now owns 524,206 shares of the biopharmaceutical company’s stock worth $271,000 after buying an additional 518,219 shares in the last quarter. Finally, RB Capital Management LLC raised its stake in shares of Pfizer by 6.7% in the 1st quarter. RB Capital Management LLC now owns 5,446 shares of the biopharmaceutical company’s stock worth $282,000 after buying an additional 341 shares in the last quarter. Institutional investors own 67.90% of the company’s stock.

About Pfizer

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Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women's health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands.

See Also

Dividend History for Pfizer (NYSE:PFE)

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