Pfizer (NYSE:PFE) Trading 0.3% Higher – Here’s Why

Pfizer Inc. (NYSE:PFE)’s share price rose 0.3% during trading on Friday . The company traded as high as $27.00 and last traded at $26.94. Approximately 10,932,240 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 31,681,477 shares. The stock had previously closed at $26.86.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. 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. Citigroup initiated coverage on Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target on the stock. Truist Financial decreased their target price on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Finally, Wolfe Research started coverage on Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Pfizer Stock Down 0.5 %

The firm has a market cap of $151.48 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 0.63 and a beta of 0.64. 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 has a fifty day moving average price of $26.18 and a 200-day moving average price of $28.04.

Pfizer (NYSE:PFE) last posted 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 during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm’s revenue was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.17) EPS. As a group, sell-side analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.43%. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is 232.43%.

Insider Transactions at Pfizer

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $282,400. This represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

Several hedge funds and other institutional investors have recently made changes to their positions in PFE. Gladius Capital Management LP grew its stake in shares of Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 38,015 shares in the last quarter. Quarry LP purchased a new stake in shares of Pfizer during the second quarter valued at approximately $31,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Pfizer during the third quarter worth $35,000. Joseph Group Capital Management boosted its stake in shares of Pfizer by 168.3% in the third 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 during the period. Finally, Kennebec Savings Bank purchased a new stake in Pfizer during the 3rd quarter worth $50,000. Institutional investors and hedge funds 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.