Pfizer (NYSE:PFE) Shares Up 0.4% – Here’s Why

Pfizer Inc. (NYSE:PFE)’s stock price rose 0.4% during trading on Thursday . The stock traded as high as $27.59 and last traded at $27.47. Approximately 9,234,457 shares were traded during trading, a decline of 75% from the average daily volume of 37,312,910 shares. The stock had previously closed at $27.36.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Citigroup started coverage on shares of Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective for the company. Barclays raised their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Stock Up 0.2 %

The firm has a fifty day simple moving average of $28.96 and a 200-day simple moving average of $28.64. The company has a market capitalization of $155.38 billion, a PE ratio of 37.12, a P/E/G ratio of 0.88 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.40% and a net margin of 7.07%. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.17) earnings per share. Equities research analysts anticipate that Pfizer Inc. will post 2.96 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.13%. Pfizer’s dividend payout ratio is presently 227.03%.

Insider Buying and Selling

In other news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $282,400. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pfizer

Several large investors have recently made changes to their positions in PFE. MAI Capital Management grew its position in Pfizer by 1.7% in the third quarter. MAI Capital Management now owns 697,658 shares of the biopharmaceutical company’s stock worth $20,190,000 after buying an additional 11,381 shares during the last quarter. Aljian Capital Management LLC acquired a new position in shares of Pfizer in the 3rd quarter worth $332,000. TrinityPoint Wealth LLC grew its holdings in shares of Pfizer by 85.5% in the 3rd quarter. TrinityPoint Wealth LLC now owns 191,544 shares of the biopharmaceutical company’s stock worth $5,543,000 after acquiring an additional 88,258 shares during the last quarter. Glass Wealth Management Co LLC raised its position in shares of Pfizer by 3.1% during the third quarter. Glass Wealth Management Co LLC now owns 103,686 shares of the biopharmaceutical company’s stock worth $3,001,000 after purchasing an additional 3,116 shares during the period. Finally, Clarkston Capital Partners LLC lifted its holdings in shares of Pfizer by 31.1% during the third quarter. Clarkston Capital Partners LLC now owns 57,777 shares of the biopharmaceutical company’s stock valued at $1,672,000 after purchasing an additional 13,700 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Company Profile

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.