NEW YORK – Pfizer Inc. (NYSE: NYSE:PFE) has announced a rise in its quarterly cash dividend, with the board of directors approving an increase to $0.43 per share for the first quarter of 2025. This dividend is payable on March 7, 2025, to shareholders on record as of January 24, 2025. The upcoming dividend marks the 345th consecutive quarterly payment by the pharmaceutical giant, offering a substantial 6.66% yield. According to InvestingPro data, Pfizer has raised its dividend for 14 consecutive years, demonstrating its long-standing commitment to shareholder returns.
Chairman and Chief Executive Officer Dr. Albert Bourla commented on the increase, stating it reflects Pfizer's robust financial health and its ongoing commitment to delivering shareholder value. With a market capitalization of $143.77 billion and an overall GOOD Financial Health Score from InvestingPro, the company appears undervalued at current levels. The company's decision is rooted in its disciplined approach to business and its consistent financial performance.
Pfizer, known for its contribution to health care through the development of medicines and vaccines, emphasizes its mission to improve and significantly extend the lives of patients. With a history spanning 175 years, Pfizer has maintained a focus on quality, safety, and value in the healthcare industry. The company's global efforts also include collaborations with healthcare providers, governments, and communities to enhance access to affordable healthcare worldwide.
The press release also contains forward-looking statements regarding Pfizer's dividend and capital allocation strategy. These statements are subject to risks and uncertainties that could cause actual results to differ, including the potential impacts of COVID-19 on the company's operations and market conditions.
Investors are advised that the information provided in the release is current as of December 12, 2024, and that Pfizer does not undertake an obligation to update the statements if new information or future events change the anticipated outcomes. For deeper insights into Pfizer's valuation, financial health, and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 top US stocks with expert analysis and actionable intelligence.
This financial update is based on a press release statement from Pfizer Inc. and is intended to inform shareholders and the market about the latest dividend declaration.
In other recent news, Pfizer has announced significant developments in its cancer research and leadership transitions. The pharmaceutical giant, in collaboration with Alliance Foundation Trials, reported results from the Phase 3 PATINA trial, showing a significant improvement in progression-free survival for patients with HR+, HER2+ metastatic breast cancer. This is due to the addition of IBRANCE to the standard first-line maintenance therapy. Pfizer also reported a robust 32% operational growth in its third-quarter earnings for 2024, with total revenues hitting $17.7 billion.
Analyst firms Guggenheim and Leerink Partners have adjusted their financial outlook for Pfizer. Guggenheim reduced the price target from $35.00 to $33.00 but maintained a Buy rating, while Leerink Partners reduced its price target from $31.00 to $28.00, keeping a Market Perform rating.
In terms of leadership transitions, Pfizer announced the appointment of Chris Boshoff as its new Chief Scientific Officer and President of Research & Development, effective January 1, 2025. Additionally, Pfizer is considering the sale of its hospital drugs business, Pfizer Hospital, and has engaged Goldman Sachs (NYSE:GS) to evaluate potential buyers. These are some of the recent developments in the company.
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