Pfizer (NYSE:PFE) Trading Up 0.7% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PFE. Citigroup started coverage on shares of Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target on the stock. StockNews.com upgraded shares of Pfizer from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Sanford C. Bernstein initiated coverage on Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. Finally, Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.92.

Pfizer Trading Up 0.2 %

The company’s 50 day simple moving average is $28.55 and its two-hundred day simple moving average is $28.65. The company has a market capitalization of $141.11 billion, a price-to-earnings ratio of 33.72, a P/E/G ratio of 0.79 and a beta of 0.67. 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 released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) 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 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 prior year, the firm earned ($0.17) EPS. The firm’s revenue was up 31.2% on a year-over-year basis. As a group, research analysts anticipate that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.75%. Pfizer’s payout ratio is currently 227.03%.

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $282,400. The trade was a 11.11 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pfizer

Several institutional investors have recently modified their holdings of PFE. Olistico Wealth LLC acquired a new stake in Pfizer in the second quarter valued at approximately $25,000. Gladius Capital Management LP raised its holdings in Pfizer by 102.8% in the third 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 in the last quarter. MFA Wealth Advisors LLC acquired a new stake in Pfizer in the second quarter valued at approximately $29,000. Quarry LP acquired a new stake in Pfizer in the second quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. acquired a new stake in Pfizer in the second quarter valued at approximately $34,000. Institutional investors and hedge funds 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.