Pfizer (NYSE:PFE) Trading Up 0.3% – Here’s What Happened

Pfizer Inc. (NYSE:PFE) shot up 0.3% during mid-day trading on Wednesday . The stock traded as high as $25.95 and last traded at $25.84. 6,336,672 shares traded hands during trading, a decline of 84% from the average session volume of 38,405,293 shares. The stock had previously closed at $25.77.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Evercore ISI raised Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.92.

Pfizer Price Performance

The firm has a market capitalization of $146.38 billion, a price-to-earnings ratio of 34.91, a P/E/G ratio of 0.70 and a beta of 0.67. The company’s 50 day moving average is $27.89 and its 200 day moving average is $28.51. 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 announced 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 company had revenue of $17.70 billion for 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%. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period last year, the firm earned ($0.17) earnings per share. On average, equities research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.50%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Pfizer

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FAS Wealth Partners Inc. raised its holdings in shares of Pfizer by 1.3% during the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after buying an additional 342 shares in the last quarter. Sachetta LLC raised its stake in Pfizer by 7.3% during the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after acquiring an additional 342 shares in the last quarter. Wells Trecaso Financial Group LLC raised its stake in Pfizer by 2.5% during the third quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock worth $416,000 after acquiring an additional 350 shares in the last quarter. Secure Asset Management LLC boosted its stake in shares of Pfizer by 0.6% in the 2nd quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock valued at $1,632,000 after purchasing an additional 353 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its stake in shares of Pfizer by 0.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock valued at $1,180,000 after purchasing an additional 355 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

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.