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Pfizer (NYSE:PFE) is one of the world’s largest pharmaceutical companies. While it historically sold many types of health care products and chemicals, prescription drugs and vaccines now account for most of its sales.
The last several quarters have been strong for Pfizer. It posted better-than-expected EPS and revenues for the last three quarters. The company will report its Q2 2024 earnings on July 30, before the market opens. Wall Street analysts expect the company to post an EPS of $0.45, down from $0.67 in the year-ago period. According to data from Benzinga Pro, quarterly revenue is expected to be $13.03 billion, up from $12.73 billion in the year-ago period.
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The 52-week range of Pfizer stock price was $25.20 to $37.72.
Pfizer’s stock dividend yield is 5.77%. During the last 12 months, it paid $1.70 per share in dividends.
The Latest On Pfizer
On Wednesday, Pfizer announced positive top-line results from the Phase 3 AFFINE study (NCT04370054) evaluating giroctocogene fitelparvovec, an investigational gene therapy for the treatment of adults with moderately severe to severe hemophilia A.
Earlier this month, Pfizer revealed it will begin studies to evaluate the optimal dose of its weight-loss pill during the year’s second half. After previously discounting a twice-daily version of its weight loss drug due to patients having difficulties tolerating it, the company moved forward with the once-daily version. With the new formulation, Pfizer continues its attempt to catch up to Eli Lilly (NYSE:LLY) and Novo Nordisk (NYSE:NVO), which are currently dominating the weight loss drug landscape.
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How Can You Earn $100 Per Month As A Pfizer Investor?
If you want to make $100 per month—$1,200 annually—from Pfizer dividends, your investment value needs to be approximately $20,797, which is 706 shares at $29.46 each.
Understanding the dividend yield calculations: When estimating, you need two key variables – the desired annual income ($1,200) and the dividend yield (5.77% in this case). So, $1,200 / 0.0577 = $20,797 to generate an income of $100 per month.
You can calculate the dividend yield by dividing the annual dividend payments by the stock’s current price.
The dividend yield can change over time due to fluctuating stock prices and dividend payments on a rolling basis.
For instance, assume a stock that pays $2 as an annual dividend is priced at $50. Its dividend yield would be $2/$50 = 4%. If the stock price rises to $60, the dividend yield drops to 3.33% ($2/$60). A drop in stock price to $40 will have an inverse effect and increase the dividend yield to 5% ($2/$40).
In summary, income-focused investors may find Pfizer stock an attractive option for making a steady income of $100 per month by owning 706 shares of stock. There may be more upside as investors benefit from the company’s consistent dividend hikes. Pfizer has raised its dividend consecutively for the last 15 years.
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This article How To Earn $100 Per Month From Pfizer Stock originally appeared on Benzinga.com