Pfizer (NYSE:PFE) Trading Up 0.1% – Here’s Why

Shares of Pfizer Inc. (NYSE:PFE) were up 0.1% during mid-day trading on Wednesday . The stock traded as high as $26.77 and last traded at $26.74. Approximately 19,716,416 shares were traded during trading, a decline of 49% from the average daily volume of 38,943,637 shares. The stock had previously closed at $26.71.

Analyst Ratings Changes

Several research firms have recently commented on PFE. Bank of America reiterated a “neutral” rating and set a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. Sanford C. Bernstein started coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.14.

Pfizer Stock Down 0.7 %

The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The firm’s 50-day moving average price is $26.61 and its 200 day moving average price is $28.11. The firm has a market cap of $150.52 billion, a P/E ratio of 35.89, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.17) earnings per share. As a group, research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be paid a dividend of $0.43 per share. This is a boost from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.48%. The ex-dividend date is Friday, January 24th. Pfizer’s payout ratio is currently 232.43%.

Insider Buying and Selling

In related news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 11.11 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gladius Capital Management LP raised its stake in shares of Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 38,015 shares in the last quarter. Quarry LP bought a new stake in Pfizer in the second quarter worth about $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in Pfizer in the 3rd quarter valued at about $35,000. Joseph Group Capital Management boosted its position in shares of Pfizer by 168.3% during the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 771 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Pfizer in the 2nd quarter worth approximately $38,000. Institutional investors own 68.36% of the company’s stock.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.