Pfizer (NYSE:PFE) Shares Up 0.8% After Dividend Announcement

Pfizer Inc. (NYSE:PFE)’s stock price traded up 0.8% during trading on Thursday after the company announced a dividend. The company traded as high as $25.48 and last traded at $25.43. 8,383,808 shares were traded during mid-day trading, a decline of 78% from the average session volume of 38,402,688 shares. The stock had previously closed at $25.23.

The newly announced dividend which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be paid a $0.43 dividend. The ex-dividend date is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.72%. Pfizer’s payout ratio is 227.03%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wolfe Research initiated coverage on Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein assumed coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Finally, StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and a consensus target price of $32.43.

Pfizer Stock Performance

The firm has a market cap of $144.96 billion, a PE ratio of 34.57, a P/E/G ratio of 0.63 and a beta of 0.65. The stock has a 50-day moving average price of $27.17 and a 200 day moving average price of $28.27. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

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

Insiders Place Their Bets

In related news, Director Scott Gottlieb acquired 1,000 shares of Pfizer stock in a transaction on Wednesday, October 30th. The shares were bought at an average price 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 trade represents a 11.11 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pfizer

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PFE. MFA Wealth Advisors LLC bought a new stake in Pfizer in the second quarter valued at about $29,000. Gladius Capital Management LP increased its holdings 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 valued at $30,000 after acquiring an additional 38,015 shares during the last quarter. Quarry LP acquired a new stake in shares of Pfizer during the 2nd quarter valued at approximately $31,000. Financial Connections Group Inc. acquired a new stake in shares of Pfizer in the 2nd quarter worth about $34,000. Finally, Teachers Insurance & Annuity Association of America bought a new stake in Pfizer in the 3rd quarter valued at about $35,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

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.