Pfizer (NYSE:PFE) Stock Price Up 1.1% – Here’s Why

Pfizer Inc. (NYSE:PFE)’s stock price rose 1.1% during mid-day trading on Monday . The company traded as high as $27.24 and last traded at $27.02. Approximately 15,767,046 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 39,205,977 shares. The stock had previously closed at $26.73.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. 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. UBS Group reduced their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Bank of America reaffirmed a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a research report on Tuesday, December 10th. Citigroup lowered their target price on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Finally, StockNews.com lowered 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, eight have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Stock Down 2.4 %

The stock has a market cap of $147.33 billion, a PE ratio of 18.44, a P/E/G ratio of 0.64 and a beta of 0.61. The business has a 50 day moving average price of $26.29 and a 200 day moving average price of $27.19. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.15. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The firm had revenue of $17.76 billion during the quarter, compared to analysts’ expectations of $17.26 billion. During the same period in the previous year, the business posted $0.10 EPS. The business’s revenue was up 24.7% compared to the same quarter last year. Equities research analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, January 24th were given a dividend of $0.43 per share. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.62%. Pfizer’s dividend payout ratio (DPR) is 121.99%.

Insiders Place Their Bets

In related news, Director Ronald E. Blaylock bought 19,457 shares of the stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the acquisition, the director now directly owns 27,707 shares in the company, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Retirement Wealth Solutions LLC purchased a new stake in Pfizer in the fourth quarter valued at $26,000. Rialto Wealth Management LLC acquired a new position in Pfizer in the fourth quarter valued at about $26,000. Clarity Asset Management Inc. purchased a new position in Pfizer during the fourth quarter worth about $27,000. Gould Capital LLC increased its position in shares of Pfizer by 97.2% during the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 493 shares during the last quarter. Finally, 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 valued at $30,000 after acquiring an additional 38,015 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

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.