Pfizer Rewards Shareholders With 2.6% Dividend Hike

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.

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.

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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.

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