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

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 given a dividend of 0.43 per share by the biopharmaceutical company on Friday, June 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.49%. The ex-dividend date of this dividend is Friday, May 9th.

Pfizer has increased 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 payout ratio of 56.6% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 0.7 %

Shares of NYSE PFE traded up $0.17 during midday trading on Friday, reaching $22.95. 35,816,572 shares of the company's stock traded hands, compared to its average volume of 40,530,268. Pfizer has a one year low of $20.92 and a one year high of $31.54. The stock's 50 day simple moving average is $24.58 and its 200-day simple moving average is $25.94. The company has a market cap of $130.16 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 0.64 and a beta of 0.67. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly 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 business had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business's revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. On average, analysts predict that Pfizer will post 2.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PFE has been the subject of several research analyst reports. Cantor Fitzgerald started coverage on Pfizer in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 target price for the company. Guggenheim reiterated a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. Citigroup reaffirmed a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. UBS Group dropped their price objective on shares of Pfizer from $28.00 to $24.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, Hsbc Global Res raised shares of Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $29.57.

Insider Activity at Pfizer

In other news, Director Ronald E. Blaylock acquired 19,457 shares of Pfizer stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the acquisition, the director now owns 27,707 shares of the company's stock, valued at $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pfizer

A hedge fund recently raised its stake in Pfizer stock. Brighton Jones LLC grew its position in Pfizer Inc. (NYSE:PFE - Free Report) by 1,282.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 666,318 shares of the biopharmaceutical company's stock after acquiring an additional 618,117 shares during the quarter. Brighton Jones LLC's holdings in Pfizer were worth $17,677,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 68.36% of the company's stock.

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.