Dow Component Pfizer (PFE) To Go Ex-dividend Tomorrow

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Links.

The Dow Jones Industrial Average ( ^DJI) is trading up 43 points (+0.3%) at 15,564 as of Tuesday, Jul 30, 2013, 10:35 a.m. ET. During this time, 105.3 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 583.6 million. The NYSE advances/declines ratio sits at 1,667 issues advancing vs. 1,120 declining with 131 unchanged.
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Wednesday, July 31, 2013 is the ex-dividend date for Dow component Pfizer (NYSE: PFE). Owners of shares as of market close today will be eligible for a dividend of 24 cents per share. At a price of $30 as of 10:35 a.m. ET, the dividend yield is 3.3% compared to the average Dow component yield of 2.6%.

The average volume for Pfizer has been 61.2 million shares per day over the past 30 days. Pfizer has a market cap of $207.52 billion and is part of the health care sector and drugs industry. Shares are up 17.8% year to date as of Monday's close.

Pfizer Inc., a biopharmaceutical company, discovers, develops, manufactures, and sells medicines for people and animals worldwide. The company has a P/E ratio of 20.8, above the average drugs industry P/E ratio of 14.1.
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TheStreet Ratings rates Pfizer as a buy. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, impressive record of earnings per share growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. We feel these strengths outweigh the fact that the company shows weak operating cash flow.

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