Pfizer Inc. (NYSE:PFE) to Issue $0.43 Quarterly Dividend

Pfizer Inc. (NYSE:PFE) announced a quarterly dividend on Wednesday, April 22nd. Shareholders of record on Friday, May 8th will be given a dividend of 0.43 per share by the biopharmaceutical company on Friday, June 12th. This represents a c) annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Friday, May 8th.

Pfizer has decreased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 16 consecutive years. Pfizer has a dividend payout ratio of 55.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Pfizer to earn $2.82 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 61.0%.

Pfizer Price Performance

Pfizer stock opened at $26.78 on Thursday. The firm has a fifty day moving average of $27.26 and a 200-day moving average of $26.05. Pfizer has a 52-week low of $21.97 and a 52-week high of $28.75. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $152.28 billion, a P/E ratio of 19.69 and a beta of 0.43.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, February 3rd. The biopharmaceutical company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.09. Pfizer had a net margin of 12.42% and a return on equity of 20.48%. The business had revenue of $17.56 billion for the quarter, compared to analyst estimates of $16.93 billion. During the same quarter in the previous year, the business posted $0.63 EPS. The business’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, analysts predict that Pfizer will post 2.98 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. TD Cowen reissued a “hold” rating on shares of Pfizer in a research report on Tuesday, December 30th. Argus upgraded Pfizer from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Monday, March 2nd. CICC Research started coverage on Pfizer in a report on Thursday, April 16th. They set an “outperform” rating and a $33.00 target price on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Pfizer in a research report on Thursday, January 22nd. Finally, Barclays initiated coverage on Pfizer in a report on Thursday, February 19th. They issued an “underweight” rating and a $25.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Pfizer presently has an average rating of “Hold” and a consensus target price of $28.48.

About Pfizer

Pfizer Inc (NYSE: PFE) is a multinational biopharmaceutical company headquartered in New York City. Founded in 1849 by Charles Pfizer and Charles Erhart, the company researches, develops, manufactures and commercializes a broad range of medicines and vaccines for human health. Its activities span discovery research, clinical development, regulatory affairs, manufacturing and global commercial distribution across multiple therapeutic areas.

Pfizer’s portfolio and pipeline cover oncology, immunology, cardiology, endocrinology, rare diseases, hospital acute care and anti-infectives, along with a substantial vaccine business.