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

Pfizer Inc. (NYSE:PFE)’s stock price was up 0.1% during mid-day trading on Thursday . The company traded as high as $26.08 and last traded at $25.92. Approximately 6,681,545 shares were traded during trading, a decline of 82% from the average daily volume of 37,093,660 shares. The stock had previously closed at $25.89.

Analysts Set New Price Targets

PFE has been the subject of a number of analyst reports. Truist Financial dropped their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Citigroup lowered their price objective on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Guggenheim reiterated a “buy” rating and set a $33.00 price target on shares of Pfizer in a report on Monday, February 10th. Wolfe Research assumed coverage on shares of Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 price target for the company. Finally, Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.92.

Pfizer Stock Down 0.2 %

The firm has a market cap of $146.41 billion, a P/E ratio of 18.32, a PEG ratio of 0.63 and a beta of 0.64. The stock’s 50-day simple moving average is $26.28 and its 200 day simple moving average is $27.45. 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 quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.15. The company had revenue of $17.76 billion for the quarter, compared to analysts’ expectations of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business’s revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 EPS. As a group, research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.66%. The ex-dividend date is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is currently 121.99%.

Insider Buying and Selling

In other Pfizer news, Director Ronald E. Blaylock bought 19,457 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the acquisition, the director now directly owns 27,707 shares of the company’s stock, valued at approximately $710,684.55. The trade was a 235.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pfizer

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Trecaso Financial Group LLC increased its stake in Pfizer by 2.5% in the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after buying an additional 350 shares during the last quarter. Washington Trust Advisors Inc. increased its stake in Pfizer by 0.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock valued at $1,424,000 after buying an additional 360 shares during the last quarter. PSI Advisors LLC increased its stake in Pfizer by 1.4% in the 4th quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company’s stock valued at $738,000 after buying an additional 385 shares during the last quarter. Western Pacific Wealth Management LP increased its stake in Pfizer by 10.5% in the 3rd quarter. Western Pacific Wealth Management LP now owns 4,073 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 386 shares during the last quarter. Finally, Waddell & Associates LLC increased its stake in Pfizer by 1.6% in the 3rd quarter. Waddell & Associates LLC now owns 24,978 shares of the biopharmaceutical company’s stock valued at $723,000 after buying an additional 388 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

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.