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

Pfizer Inc. (NYSE:PFE) rose 0.4% during mid-day trading on Friday . The company traded as high as $26.20 and last traded at $26.11. Approximately 8,208,513 shares were traded during trading, a decline of 75% from the average daily volume of 33,243,023 shares. The stock had previously closed at $26.01.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PFE shares. Truist Financial reduced their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Sanford C. Bernstein began 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. Bank of America reaffirmed a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. Finally, Guggenheim cut their target price on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.00.

Pfizer Trading Down 1.3 %

The firm’s fifty day moving average price is $26.11 and its 200-day moving average price is $27.94. The company has a market cap of $147.89 billion, a price-to-earnings ratio of 35.27, a P/E/G ratio of 0.64 and a beta of 0.64. 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 earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. The firm had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.17) EPS. On average, equities analysts expect that Pfizer Inc. will post 2.94 EPS for the current fiscal year.

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 6.59%. The ex-dividend date is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s payout ratio is 227.03%.

Insider Activity

In related news, Director Scott Gottlieb acquired 1,000 shares of Pfizer stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Pfizer

Institutional investors have recently made changes to their positions in the stock. Retirement Wealth Solutions LLC acquired a new stake in Pfizer in the fourth quarter worth approximately $26,000. Gladius Capital Management LP raised its stake 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 worth $30,000 after buying an additional 38,015 shares in the last quarter. Quarry LP acquired a new stake in shares of Pfizer in the second quarter valued at $31,000. Teachers Insurance & Annuity Association of America bought a new position in Pfizer during the third quarter valued at about $35,000. Finally, Joseph Group Capital Management grew its holdings in Pfizer by 168.3% during the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 771 shares during the period. 68.36% of the stock is 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.