Pfizer (NYSE:PFE) Stock Price Up 1.2% – Here’s Why

Shares of Pfizer Inc. (NYSE:PFE) traded up 1.2% on Tuesday . The stock traded as high as $24.30 and last traded at $24.27. 10,021,471 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 40,904,482 shares. The stock had previously closed at $23.97.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PFE shares. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. The Goldman Sachs Group reissued a “neutral” rating and set a $25.00 target price (down previously from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Guggenheim restated a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. UBS Group lifted their price target on Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. Finally, Cantor Fitzgerald started coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Pfizer has a consensus rating of “Moderate Buy” and an average price target of $29.17.

Pfizer Trading Up 1.4%

The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm has a market cap of $138.13 billion, a PE ratio of 17.23, a price-to-earnings-growth ratio of 0.64 and a beta of 0.57. The company’s 50 day moving average price is $22.93 and its 200 day moving average price is $24.98.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.67 by $0.25. The business had revenue of $13.72 billion during the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 earnings per share. As a group, analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.72 annualized dividend and a yield of 7.08%. Pfizer’s payout ratio is currently 124.64%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Lipe & Dalton raised its holdings in Pfizer by 17.7% in the fourth quarter. Lipe & Dalton now owns 2,659 shares of the biopharmaceutical company’s stock valued at $71,000 after buying an additional 400 shares during the period. Beam Wealth Advisors Inc. raised its position in Pfizer by 1.5% in the fourth quarter. Beam Wealth Advisors Inc. now owns 27,444 shares of the biopharmaceutical company’s stock valued at $728,000 after purchasing an additional 401 shares during the period. Providence Capital Advisors LLC boosted its position in shares of Pfizer by 0.4% in the fourth quarter. Providence Capital Advisors LLC now owns 114,358 shares of the biopharmaceutical company’s stock worth $3,034,000 after buying an additional 409 shares during the period. Donaldson Capital Management LLC grew its stake in shares of Pfizer by 1.2% in the fourth quarter. Donaldson Capital Management LLC now owns 35,694 shares of the biopharmaceutical company’s stock valued at $947,000 after buying an additional 410 shares in the last quarter. Finally, Noesis Capital Mangement Corp raised its holdings in shares of Pfizer by 2.6% during the 4th quarter. Noesis Capital Mangement Corp now owns 16,357 shares of the biopharmaceutical company’s stock valued at $434,000 after buying an additional 413 shares during the period. 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.