Pfizer Inc. to Issue Quarterly Dividend of $0.42 (NYSE:PFE)

Pfizer Inc. (NYSE:PFE) announced a quarterly dividend on Wednesday, October 9th, RTT News reports. Stockholders of record on Friday, November 8th will be given a dividend of 0.42 per share by the biopharmaceutical company on Monday, December 2nd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date of this dividend is Friday, November 8th.

Pfizer has raised its dividend payment by an average of 2.6% per year over the last three years and has increased its dividend every year for the last 15 years. Pfizer has a dividend payout ratio of 57.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Pfizer to earn $2.92 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 57.5%.

Pfizer Price Performance

PFE stock opened at $27.35 on Thursday. The stock has a market cap of $154.98 billion, a price-to-earnings ratio of 36.96, a P/E/G ratio of 0.88 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The company has a 50 day simple moving average of $28.96 and a 200 day simple moving average of $28.64. Pfizer has a 1 year low of $25.20 and a 1 year high of $31.54.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.40%. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. The company’s revenue was up 31.2% on a year-over-year basis. Research analysts anticipate that Pfizer will post 2.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on PFE. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Sanford C. Bernstein started coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. Barclays upped their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, UBS Group increased their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.58.

Insider Activity

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by company insiders.

Pfizer Company Profile

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.