Pfizer Inc. (NYSE:PFE - Get Rating) announced a quarterly dividend on Thursday, June 23rd, RTT News reports. Shareholders of record on Wednesday, June 29th will be paid a dividend of 0.40 per share by the biopharmaceutical company on Tuesday, September 6th. This represents a $1.60 dividend on an annualized basis and a yield of 3.22%.
Pfizer has increased its dividend by an average of 4.4% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. Pfizer has a payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Pfizer to earn $5.39 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 29.7%.
Shares of NYSE PFE traded up $0.57 during mid-day trading on Thursday, reaching $49.64. The company's stock had a trading volume of 329,179 shares, compared to its average volume of 21,970,112. The firm has a market capitalization of $278.53 billion, a PE ratio of 11.25, a P/E/G ratio of 0.58 and a beta of 0.76. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.39 and a quick ratio of 1.13. The stock has a fifty day moving average of $50.57 and a two-hundred day moving average of $52.22. Pfizer has a 52 week low of $38.82 and a 52 week high of $61.71.
Pfizer (NYSE:PFE - Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The biopharmaceutical company reported $1.62 EPS for the quarter, missing analysts' consensus estimates of $1.66 by ($0.04). Pfizer had a net margin of 26.97% and a return on equity of 38.29%. The firm had revenue of $25.66 billion for the quarter, compared to the consensus estimate of $24.73 billion. During the same period in the previous year, the company posted $0.93 earnings per share. Pfizer's quarterly revenue was up 76.8% on a year-over-year basis. Analysts anticipate that Pfizer will post 6.61 EPS for the current fiscal year.
In other Pfizer news, SVP Jennifer B. Damico sold 4,218 shares of the firm's stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $53.96, for a total transaction of $227,603.28. Following the transaction, the senior vice president now owns 10,846 shares of the company's stock, valued at $585,250.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP William R. Carapezzi, Jr. sold 32,908 shares of the firm's stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $50.00, for a total value of $1,645,400.00. Following the transaction, the executive vice president now directly owns 38,146 shares in the company, valued at approximately $1,907,300. The disclosure for this sale can be found here. Insiders sold 41,126 shares of company stock worth $2,075,003 in the last three months. 0.05% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in PFE. Worth Asset Management LLC purchased a new stake in Pfizer in the 1st quarter valued at about $29,000. Red Wave Investments LLC grew its holdings in Pfizer by 33.6% in the 1st quarter. Red Wave Investments LLC now owns 5,124 shares of the biopharmaceutical company's stock valued at $265,000 after buying an additional 1,288 shares during the period. Front Street Capital Management Inc. grew its holdings in shares of Pfizer by 4.3% during the 1st quarter. Front Street Capital Management Inc. now owns 5,168 shares of the biopharmaceutical company's stock worth $268,000 after purchasing an additional 215 shares during the period. RB Capital Management LLC grew its holdings in shares of Pfizer by 6.7% during the 1st quarter. RB Capital Management LLC now owns 5,446 shares of the biopharmaceutical company's stock worth $282,000 after purchasing an additional 341 shares during the period. Finally, Navis Wealth Advisors LLC grew its holdings in shares of Pfizer by 19.8% during the 1st quarter. Navis Wealth Advisors LLC now owns 6,050 shares of the biopharmaceutical company's stock worth $313,000 after purchasing an additional 1,000 shares during the period. 66.50% of the stock is owned by institutional investors and hedge funds.
PFE has been the topic of several research reports. Citigroup raised their price objective on Pfizer from $46.00 to $57.00 and gave the stock a "neutral" rating in a report on Tuesday, April 5th. Barclays set a $52.00 price objective on Pfizer in a research report on Tuesday, May 17th. SVB Leerink started coverage on Pfizer in a research report on Monday, May 23rd. They set a "market perform" rating and a $55.00 price target for the company. JPMorgan Chase & Co. set a $57.00 price objective on Pfizer in a research note on Tuesday, May 3rd. Finally, Wells Fargo & Company cut their price target on Pfizer from $60.00 to $55.00 in a research note on Wednesday, May 4th. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Pfizer presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.26.
About Pfizer (Get Rating)
Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women's health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands.
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