Pfizer (NYSE:PFE) Shares Up 2% – What’s Next?

Pfizer Inc. (NYSE:PFE)’s stock price rose 2% during mid-day trading on Monday . The stock traded as high as $26.89 and last traded at $26.61. Approximately 16,809,888 shares changed hands during trading, a decline of 50% from the average daily volume of 33,676,488 shares. The stock had previously closed at $26.09.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wolfe Research initiated coverage on Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 price objective on the stock. Truist Financial dropped their target price on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Bank of America reiterated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a report on Tuesday, December 10th. Guggenheim reduced their price objective on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Stock Down 0.4 %

The stock has a fifty day moving average price of $26.18 and a two-hundred day moving average price of $27.91. The company has a market cap of $151.00 billion, a P/E ratio of 36.01, a price-to-earnings-growth 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 quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the previous year, the firm earned ($0.17) EPS. The business’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, research analysts expect that Pfizer Inc. will post 2.94 EPS for the current year.

Pfizer Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 annualized dividend and a dividend yield of 6.46%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC grew its holdings in Pfizer by 1.6% during the second quarter. AQR Capital Management LLC now owns 612,429 shares of the biopharmaceutical company’s stock valued at $17,068,000 after purchasing an additional 9,435 shares during the period. Magnolia Capital Advisors LLC bought a new position in Pfizer during the second quarter worth about $409,000. Quarry LP purchased a new position in shares of Pfizer in the second quarter worth about $31,000. IMS Capital Management raised its position in shares of Pfizer by 2.0% in the second quarter. IMS Capital Management now owns 104,938 shares of the biopharmaceutical company’s stock valued at $3,033,000 after purchasing an additional 2,029 shares during the period. Finally, Heartland Bank & Trust Co purchased a new stake in shares of Pfizer during the 2nd quarter valued at approximately $596,000. 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.