Pfizer Inc. (NYSE:PFE) Declares Quarterly Dividend of $0.43

Pfizer Inc. (NYSE:PFE - Get Free Report) declared a quarterly dividend on Wednesday, April 23rd, RTT News reports. Stockholders of record on Friday, May 9th will be paid a dividend of 0.43 per share by the biopharmaceutical company on Friday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 7.69%.

Pfizer has raised its dividend payment by an average of 2.5% annually over the last three years and has increased its dividend every year for the last 16 years. Pfizer has a dividend payout ratio of 56.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Pfizer to earn $3.03 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 56.8%.

Pfizer Trading Down 0.7 %

NYSE PFE traded down $0.15 on Wednesday, reaching $22.38. The stock had a trading volume of 50,742,227 shares, compared to its average volume of 40,494,655. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average price of $24.75 and a two-hundred day moving average price of $26.08. Pfizer has a 12-month low of $20.92 and a 12-month high of $31.54. The firm has a market capitalization of $126.93 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 0.64 and a beta of 0.67.

Pfizer (NYSE:PFE - Get Free Report) last posted its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.15. The firm had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. Pfizer's revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. As a group, sell-side analysts forecast that Pfizer will post 2.95 EPS for the current fiscal year.

Insider Activity

In related news, Director Ronald E. Blaylock bought 19,457 shares of the company's stock in a transaction on Thursday, February 13th. The stock was bought at an average cost of $25.65 per share, with a total value of $499,072.05. Following the completion of the acquisition, the director now owns 27,707 shares in the company, valued at approximately $710,684.55. This represents a 235.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On Pfizer

An institutional investor recently raised its position in Pfizer stock. Revolve Wealth Partners LLC lifted its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 12.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,766 shares of the biopharmaceutical company's stock after buying an additional 2,087 shares during the quarter. Revolve Wealth Partners LLC's holdings in Pfizer were worth $498,000 at the end of the most recent quarter. Institutional investors own 68.36% of the company's stock.

Analyst Ratings Changes

PFE has been the subject of several recent research reports. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. Cantor Fitzgerald began coverage on shares of Pfizer in a report on Tuesday. They set a "neutral" rating and a $24.00 price target for the company. Guggenheim reiterated a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. UBS Group decreased their target price on Pfizer from $28.00 to $24.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Finally, Citigroup reiterated a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.57.

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.

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