Pfizer (NYSE:PFE) Trading 0.4% Higher – Here’s What Happened

Shares of Pfizer Inc. (NYSE:PFE) were up 0.4% on Tuesday . The stock traded as high as $26.65 and last traded at $26.52. Approximately 5,689,494 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 38,739,730 shares. The stock had previously closed at $26.42.

Analyst Ratings Changes

PFE has been the topic of several research reports. Bank of America reaffirmed a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a report on Tuesday, December 10th. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Sanford C. Bernstein began coverage on Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective for the company. Citigroup initiated coverage on shares of Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.14.

Pfizer Trading Up 0.0 %

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 stock has a market capitalization of $149.78 billion, a P/E ratio of 35.72, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65. The company has a fifty day simple moving average of $26.50 and a two-hundred day simple moving average of $28.10.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter in the previous year, the business posted ($0.17) EPS. Pfizer’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, sell-side 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 issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.51%. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is presently 232.43%.

Insider Buying and Selling

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFE. Charles Schwab Investment Management Inc. increased its holdings in Pfizer by 11.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after buying an additional 12,864,343 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Pfizer by 279.3% during the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock worth $150,481,000 after purchasing an additional 8,378,173 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Pfizer by 22.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock valued at $1,101,713,000 after purchasing an additional 6,977,587 shares during the period. International Assets Investment Management LLC acquired a new stake in Pfizer in the 3rd quarter valued at about $146,481,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Pfizer by 164.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company’s stock worth $211,737,000 after purchasing an additional 4,546,809 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.