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

Pfizer Inc. (NYSE:PFE) declared a quarterly dividend on Wednesday, October 9th, RTT News reports. Shareholders 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 yield of 5.56%.

Pfizer has increased its dividend payment by an average of 2.6% annually over the last three years and has increased its dividend every year for the last 15 years. Pfizer has a dividend payout ratio of 58.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Pfizer to earn $2.84 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 59.2%.

Pfizer Price Performance

Shares of NYSE:PFE traded up $1.01 during trading on Wednesday, reaching $30.19. The company had a trading volume of 44,131,496 shares, compared to its average volume of 37,448,813. The company has a fifty day moving average of $29.09 and a two-hundred day moving average of $28.35. The stock has a market capitalization of $171.07 billion, a P/E ratio of -502.50, a price-to-earnings-growth ratio of 1.23 and a beta of 0.67. Pfizer has a 12 month low of $25.20 and a 12 month high of $33.92. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.67 EPS. Equities research analysts forecast that Pfizer will post 2.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PFE has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Thursday, October 3rd. UBS Group increased their price objective on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.54.

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.