Pfizer (NYSE:PFE) Stock Price Up 0.7% – Here’s Why

Pfizer Inc. (NYSE:PFE) was up 0.7% during mid-day trading on Tuesday . The stock traded as high as $25.09 and last traded at $25.03. Approximately 11,312,564 shares traded hands during trading, a decline of 70% from the average daily volume of 38,214,168 shares. The stock had previously closed at $24.86.

Analysts Set New Price Targets

PFE has been the topic of several analyst reports. Citigroup initiated coverage on shares of Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 price target on the stock. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Wolfe Research started coverage on Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective on the stock. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, UBS Group lifted their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.92.

Pfizer Trading Down 0.6 %

The stock’s fifty day moving average is $28.36 and its 200 day moving average is $28.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The stock has a market cap of $141.36 billion, a P/E ratio of 33.71, a P/E/G ratio of 0.80 and a beta of 0.67.

Pfizer (NYSE:PFE) last released its quarterly earnings results 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 company had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same quarter in the prior year, the firm posted ($0.17) EPS. Pfizer’s quarterly revenue was up 31.2% compared to the same quarter last year. As a group, equities research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.73%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

Insiders Place Their Bets

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. The trade was a 11.11 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. FAS Wealth Partners Inc. grew its stake in Pfizer by 1.3% in the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after acquiring an additional 342 shares in the last quarter. Sachetta LLC increased its holdings in Pfizer by 7.3% during the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 342 shares during the period. Wells Trecaso Financial Group LLC raised its position in Pfizer by 2.5% during the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after purchasing an additional 350 shares in the last quarter. Ironvine Capital Partners LLC lifted its holdings in shares of Pfizer by 2.1% in the 1st quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock worth $470,000 after buying an additional 353 shares during the period. Finally, Secure Asset Management LLC increased its stake in shares of Pfizer by 0.6% during the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock valued at $1,632,000 after buying an additional 353 shares during the period. 68.36% of the stock is currently owned by institutional investors.

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.