Pharmaceutical and biotechnology company Pfizer, Inc. (PFE) recently announced a quarterly dividend of $0.40 per share, an increase of about 2.6% from the previous dividend of $0.39.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Following the news, shares of the company rose 1.3% on Friday to close at $52.78
Dividend Payment Date
The dividend will be paid on March 4, 2022, to shareholders of record as of January 28, 2022.
Dividend Yield
The company’s annual dividend of $1.6 per share now reflects a dividend yield of 3% based on Friday’s closing price.
Notably, the company has been raising its quarterly dividend consistently over the past eight years, making it an attractive choice for investors.
See Insiders’ Hot Stocks on TipRanks >>
Price Target
Recently, Barclays analyst Carter Gould reiterated a Hold rating on the stock. The analyst, however, raised the price target from $44 to $54, which implies upside potential of 2.3% from current levels.
The Wall Street community is cautiously optimistic about the stock with a Moderate Buy consensus rating based on 6 Buys and 9 Holds. The average Pfizer price target of $53.17 implies that the stock is almost fully valued at current levels.
Smart Score
Pfizer scores a 9 out of 10 from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations. Shares have gained about 34.6% over the past year.
Related News:
Laurentian Bank Posts Loss in Q4, Dividend Raised
Ford Chairman Acquires 2M Shares of the Automaker — Report
FARFETCH Snaps Up LUXCLUSIF for Undisclosed Amount
