Rs 40/Share Dividend: Pharma Stock Sets Record Date 400% Dividend Payout

Pfizer is a mid-cap pharma company which has declared a whopping final dividend of 400% for FY23. In order to determine the eligibility of the shareholders for the purpose of the same, the Board of Directors of the company have announced record date.

Pfizer Dividend

"As informed earlier, the Board of Directors at its Meeting held on Monday, May 15, 2023 had recommended a final dividend of Rs. 40.00/- (400%) per equity share for the financial year ended March 31, 2023. The said dividend if approved by the Members at the AGM, would be paid on or before September 16, 2023. This is to further inform you that the Record Date for the payment of aforementioned Dividend of Rs. 40 (400%) per equity share is Friday, August 11, 2023," said Pfizer in a stock exchange filing on Thursday.

Pfizer Financials

From Rs 125.79 crore in Q4FY22 to Rs 129.65 crore in Q4Y23, the company's standalone net profit grew by 3.1% YoY. The company's revenue from operations for Q4FY23 was Rs 572.64 crore, which is a rise of 4.2% YoY from Rs 549.66 crore in Q4FY22. The company's net profit climbed by about 2% in FY23, from Rs. 612.56 crore in FY22 to Rs. 623.93 crore. Total income dropped from Rs 2,674 crore in the fiscal year 2021-2022 to Rs 2,526 crore in 12MFY23.

The company is yet to declare its Q1FY24 results.

Pfizer Share Price

On Friday, the shares of Pfizer opened on the BSE at Rs 3905 apiece and while writing this copy and the scrip was trading at Rs 3934 with an upside gap of 0.70% over the previous close of Rs 3906.75.
The stock made a 52-week-high of Rs 4,662.35 on (02/12/2022) and a 52-week-low of Rs 3,406.95 on (28/03/2023). During Q1FY24, the company recorded promoter shareholding of 63.92%, FIIs stake of 2.81%, DIIs stake of 14.89% and public stake of 18.37%.

Pfizer Share Price Target

Ameya Ranadive, Sr Equity and Derivatives Analyst · Choice International Ltd, said "PFIZER's current stock price is quoted at 3947, and it has recently formed a strong support level around 3775. The stock is currently finding support at the 100-day Exponential Moving Average (EMA) and is trading above both the 20-day and 50-day EMAs, indicating positive momentum in the short term.
There is a significant resistance level around the 200-day EMA, specifically at 3966 levels. In the past, the 200-day EMA has proven to be a robust resistance point for PFIZER's stock. However, the Bollinger Bands are showing an expansion, which suggests increasing volatility and the potential for a significant price movement in the near future."

"The Relative Strength Index (RSI) is trending up and currently stands at 66, indicating the stock's strength and positive momentum. If the stock manages to break above the 200-day EMA resistance at 3966, it could trigger a rapid upward movement in the stock price. A critical level to watch is 3700; if PFIZER's stock price surpasses this level and sustains above it, it could signal the start of a substantial rally. In such a scenario, the stock may have the potential to reach higher levels, with a target range of 4260 to 4325. Overall, considering the support, positive EMAs, expanding Bollinger Bands, and upward-trending RSI, the technical indicators are suggesting a positive outlook for PFIZER's stock. However, it's important to keep a close eye on the 200-day EMA resistance at 3966, as a breakout above this level could pave the way for a rapid upward movement. Similarly, sustained trading above 3700 could mark the beginning of a significant rally in the stock price," said Ameya Ranadive.

PFIZER has formed a bullish (inverse head and shoulders) pattern at the daily timeframe. RSI is 55 at weekly and 65 at daily time frame. Keep trailing at 3700 (recent swing) and have target expectations of 4040 to 4500 in short term to mid-term, said V.L.A. Ambala (SEBI Registered Research Analyst, Stock Market Today (SMT).

Nirav Karkera, Head-Research, Fisdom said, " Pfizer, a prominent player in the pharmaceutical industry, has made an impressive recovery in its financial performance, bouncing back after a revenue decline in the fiscal year 2023. The company's revenue and EBITDA has demonstrated growth, indicating a positive shift in its financial trajectory. The outstanding performance of Pfizer's key brands, such as Magnex and Corex DX, is a major factor contributing to such an uptick.

These flagship products have been crucial in boosting the company's revenue and overall profitability. Pfizer's management is committed to financial and operational prudence. The same reflects as it implements strategic measures to streamline operations. The company is making progress in terms of achieving cost efficiency by rationalizing overhead and employee costs. Such efficiency is extending meaningful support to margins."

"Another reason to be optimistic about Pfizer's growth prospects is its exclusive focus on domestic formulations and a strong set of brands. This positioning in the market bodes well for the company's future success. Looking ahead, we maintain a positive outlook for Pfizer, especially considering the revival of its key brands and the sustainability of its growth. These factors will be essential in shaping the company's future direction. With Pfizer's resilient approach and strategic acumen, the future holds promise and potential for sustained success in the dynamic pharmaceutical landscape.

Pfizer has displayed a robust V-shaped recovery on a daily basis, bouncing back strongly from its low point at 3408 levels on March 28, 2023. Generally, the stock is trading in a bearish trend, forming lower lows and lower highs, and remains below its 50-week and 100-week exponential moving averages. On the daily chart, Pfizer has formed a cup and handle pattern, with the potential for a bullish breakout if the price manages to close above 4,040 levels. Should this occur, there will be a positive breakout in the stock. The immediate support for this pattern is at 3,700 levels," said Nirav Karkera.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.