Pfizer aims for post-COVID growth

Article Excerpt

Pfizer’s earnings soared in 2021 and 2022 thanks to strong demand for its COVID-19 vaccines and treatments. The company used that windfall to buy other drugmakers with promising long-term products, mainly cancer treatments. The company is also aggressively cutting its costs. Those factors should drive Pfizer’s earnings growth for years to come and let it keep raising your dividend. PFIZER INC. $26 is a buy. The company (New York symbol PFE; Income Portfolio, Manufacturing & Industry sector; Shares outstanding: 5.7 billion; Market cap: $148.2 billion; Price-to-sales ratio: 2.5; Dividend yield: 6.6%; TSINetwork Rating: Above Average; www.pfizer.com) began operating in 1849 and is now one of the world’s largest makers of prescription drugs. Its top-selling brands include Eliquis (stroke), Vindaquel (heart), Ibrance (breast cancer) and Prevnar (pneumonia). With the March 2025 payment, Pfizer will raise your quarterly dividend by 2.4%. Investors will then receive $0.43 a share instead of $0.42. The new annual rate of $1.72 yields a high 6.6%. With this increase, Pfizer has now raised the…