We may see a low of $16 but don't think we w'll see it going below $16. Also Dividend increase is coming up and should further help put a floor on the stock price.
Kindler is on record as saying that he'll increase dividends every year and this time there are no further big acquisitions to hold him back.
There isn't a chance of him going back on his word under these circumstances.
What happened during the crash happened but it won't happen again. My money is where my mouth is.
Eight percent yield provided no floor, so there is no floor. PFE will go down when the Dow drops & stop when it does.
Alan's betters told the fool that would happen in 2004, 2005, 2006, 2007, 2008, 2009 & 2010, & as usual were right, while the idiotic, insane ignoramus was, as always, wrong, claiming that 4%, 5%, 6%, 7% & 8% all represented "rock solid, mortal lock, hard bottom, magic" floors under stock price.
But of course in "actual" fact, neither cooked book P/E nor dividend yield offer any support at all if the indexes tank, exactly as Chartnuts' betters warned the lying lunatic loser & welching weasel worm.
Some old dogs never learn reality.
Those were entirely different times when the future of Western financial institutions hung in the balance and fears of truly Draconian healthcare reform were very real. There was also a lot of doubt that Pfizer would be able to maintain its $1.28 annual dividend payout after Lipitor lost exclusivity.
The Pfizer dividend hasn't exceeded 5.51% since the payout ratio was drastically reduced.
These days, even the worst future big pharma basket cases like LLY and BMY aren't allowed by investors to go much over 6%.
Looking at the past simply isn't going to predict Pfizer's future price action. This is no longer your father's Oldsmobile.