Pfizer (NYSE:PFE) Stock Price Up 0.1% – Here’s Why

Pfizer Inc. (NYSE:PFE) was up 0.1% on Wednesday . The stock traded as high as $26.77 and last traded at $26.74. Approximately 19,716,416 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 38,943,637 shares. The stock had previously closed at $26.71.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PFE shares. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Sanford C. Bernstein began coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. Truist Financial lowered their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Wolfe Research initiated coverage on Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price on the stock. Finally, Guggenheim lowered their price target on Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.14.

Pfizer Stock Performance

The firm’s 50 day moving average is $26.72 and its 200-day moving average is $28.13. The stock has a market capitalization of $151.54 billion, a price-to-earnings ratio of 36.14, a PEG ratio of 0.63 and a beta of 0.65. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period in the prior year, the company posted ($0.17) EPS. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. Analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 6.43%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio is presently 232.43%.

Insider Buying and Selling

In related news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by insiders.

Institutional Investors Weigh In On Pfizer

Institutional investors have recently bought and sold shares of the company. Birmingham Capital Management Co. Inc. AL raised its stake in Pfizer by 2.7% in the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 186,650 shares of the biopharmaceutical company’s stock valued at $5,402,000 after purchasing an additional 4,887 shares during the last quarter. Copley Financial Group Inc. acquired a new stake in shares of Pfizer in the third quarter valued at about $577,000. Logan Capital Management Inc. lifted its stake in shares of Pfizer by 2.7% in the third quarter. Logan Capital Management Inc. now owns 580,545 shares of the biopharmaceutical company’s stock worth $16,801,000 after buying an additional 15,160 shares in the last quarter. Inspire Trust Co. N.A. boosted its position in Pfizer by 19.1% during the third quarter. Inspire Trust Co. N.A. now owns 92,708 shares of the biopharmaceutical company’s stock worth $2,683,000 after acquiring an additional 14,891 shares during the last quarter. Finally, Peapack Gladstone Financial Corp grew its stake in Pfizer by 23.9% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 762,976 shares of the biopharmaceutical company’s stock valued at $22,082,000 after acquiring an additional 147,405 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.