Pfizer (NYSE:PFE) Trading Up 2.3% – Here’s What Happened

Pfizer Inc. (NYSE:PFE)’s stock price rose 2.3% during trading on Tuesday . The stock traded as high as $27.57 and last traded at $27.50. 11,456,110 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 29,811,535 shares. The stock had previously closed at $26.89.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. UBS Group dropped their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. Wolfe Research assumed coverage on Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective for the company. Bank of America reiterated a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a report on Tuesday, December 10th. Finally, Truist Financial reduced 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. 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Pfizer Stock Down 0.8 %

The company has a market cap of $152.56 billion, a price-to-earnings ratio of 36.38, a P/E/G ratio of 0.63 and a beta of 0.64. The stock’s 50-day moving average is $26.23 and its 200-day moving average is $28.06. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last posted its quarterly 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. The business had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.17) EPS. On average, analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, January 24th. This represents a $1.72 annualized dividend and a yield of 6.39%. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is presently 232.43%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Pfizer

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its stake in Pfizer by 11.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock valued at $3,766,366,000 after buying an additional 12,864,343 shares during the period. Marshall Wace LLP boosted its position in shares of Pfizer by 279.3% during the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after acquiring an additional 8,378,173 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Pfizer by 22.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after purchasing an additional 6,977,587 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Pfizer in the third quarter valued at approximately $146,481,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Pfizer by 164.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company’s stock valued at $211,737,000 after purchasing an additional 4,546,809 shares during the last quarter. 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.