Pfizer (NYSE:PFE) Shares Up 0.7% – Here’s Why

Shares of Pfizer Inc. (NYSE:PFE) rose 0.7% on Wednesday . The stock traded as high as $26.18 and last traded at $25.92. Approximately 10,568,725 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 38,627,828 shares. The stock had previously closed at $25.75.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. UBS Group cut their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Guggenheim reaffirmed a “buy” rating and issued a $33.00 target price on shares of Pfizer in a report on Monday, February 10th. Truist Financial cut their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Finally, Bank of America reaffirmed a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $31.92.

Pfizer Trading Up 0.6 %

The company has a market cap of $146.87 billion, a P/E ratio of 18.39, a P/E/G ratio of 0.64 and a beta of 0.64. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $26.32 and a two-hundred day moving average price of $27.28.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.48 by $0.15. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company had revenue of $17.76 billion during the quarter, compared to analysts’ expectations of $17.26 billion. During the same quarter in the previous year, the company earned $0.10 EPS. Pfizer’s revenue was up 24.7% on a year-over-year basis. On average, analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be given a $0.43 dividend. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.64%. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is currently 121.99%.

Insider Buying and Selling at Pfizer

In other news, Director Ronald E. Blaylock purchased 19,457 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the transaction, 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 filing with the SEC, which is available at this link. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

Several large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Pfizer during the 4th quarter worth $2,328,986,000. Charles Schwab Investment Management Inc. grew its position in shares of Pfizer by 19.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock valued at $4,124,330,000 after purchasing an additional 25,315,159 shares during the period. Starboard Value LP bought a new position in Pfizer in the fourth quarter valued at approximately $407,730,000. Raymond James Financial Inc. bought a new stake in shares of Pfizer during the fourth quarter worth $274,694,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Pfizer by 22.4% during 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 acquiring an additional 6,977,587 shares during the period. Institutional investors own 68.36% of the company’s stock.

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.