Pfizer Holds Near $26, Dividend Draws Watch as Drug Prices Cloud Outlook
Pfizer Inc. ended the U.S. session at $26.21, up 4 cents. Volume was around 38.8 million shares and market cap was close to $150.2 billion. Shares barely budged even as the S&P 500 gained 0.50% and the Dow added 0.70%, according to market data. Pfizer’s trailing P/E hovered near 20. PFE’s main near-term draw is income. Pfizer’s board kept the dividend at $0.43 for the second quarter, payable June 12 to holders of record on May 8. That keeps the streak alive at 350 straight quarters. The stock ended Friday at $26.21, giving the $1.72 annual payout a yield near 6.6%. That’s annual dividends divided by share price. The high yield helps support the shares, with growth prospects still limited. It also keeps focus on Pfizer’s cash flow.