Pfizer Inc. (NYSE:PFE – Get Free Report) declared a quarterly dividend on Wednesday, April 24th, RTT News reports. Investors of record on Friday, May 10th will be given a dividend of 0.42 per share by the biopharmaceutical company on Friday, June 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.40%.
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 61.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Pfizer to earn $2.77 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 60.6%.
Pfizer Stock Down 0.2 %
NYSE:PFE opened at $26.26 on Thursday. Pfizer has a 52 week low of $25.23 and a 52 week high of $40.37. The stock’s fifty day moving average is $27.05 and its two-hundred day moving average is $28.50. The stock has a market capitalization of $148.70 billion, a price-to-earnings ratio of 72.94, a price-to-earnings-growth ratio of 1.19 and a beta of 0.61. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on PFE. Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Guggenheim started coverage on Pfizer in a research note on Friday, February 23rd. They issued a “buy” rating and a $36.00 price objective on the stock. TD Cowen cut Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 target price for the company. in a research note on Thursday, January 4th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Monday, April 15th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $36.33.
View Our Latest Stock Analysis on PFE
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.
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