Pfizer (NYSE:PFE) Trading Up 0.6% – Here’s What Happened

Shares of Pfizer Inc. (NYSE:PFE) were up 0.6% during trading on Wednesday . The stock traded as high as $29.77 and last traded at $29.62. Approximately 5,320,130 shares were traded during trading, a decline of 86% from the average daily volume of 37,117,176 shares. The stock had previously closed at $29.44.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PFE. Wells Fargo & Company boosted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Barclays upped their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. UBS Group lifted their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Trading Up 1.1 %

The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The firm has a market cap of $168.64 billion, a P/E ratio of -496.00, a PEG ratio of 1.30 and a beta of 0.67. The stock has a 50 day moving average of $29.02 and a 200 day moving average of $28.41.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. The firm had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 EPS. As a group, equities research analysts predict that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 5.65%. Pfizer’s payout ratio is presently -2,800.00%.

Hedge Funds Weigh In On Pfizer

A number of institutional investors have recently modified their holdings of the stock. Olistico Wealth LLC purchased a new stake in Pfizer during the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Pfizer during the second quarter worth about $29,000. Quarry LP acquired a new stake in shares of Pfizer in the second quarter valued at approximately $31,000. Creekmur Asset Management LLC acquired a new stake in shares of Pfizer during the fourth quarter worth about $32,000. Finally, Trivant Custom Portfolio Group LLC increased its holdings in shares of Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 600 shares in 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.