Pfizer (NYSE:PFE) Trading 0.4% Higher Following Insider Buying Activity

Pfizer Inc. (NYSE:PFE) was up 0.4% during mid-day trading on Friday following insider buying activity. The company traded as high as $28.54 and last traded at $28.40. Approximately 5,854,124 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 37,070,293 shares. The stock had previously closed at $28.30.

Specifically, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost 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 of the company’s stock, valued at $282,400. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PFE shares. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Sanford C. Bernstein assumed coverage on Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective on the stock. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company raised their price target 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. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Trading Down 0.7 %

The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The business’s fifty day moving average is $29.03 and its 200-day moving average is $28.59. The stock has a market capitalization of $159.18 billion, a PE ratio of 37.96, a P/E/G ratio of 0.90 and a beta of 0.67.

Pfizer (NYSE:PFE) last announced its quarterly earnings data 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 company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.40%. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.17) EPS. As a group, analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

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 is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 5.98%. Pfizer’s dividend payout ratio is presently 227.03%.

Hedge Funds Weigh In On Pfizer

Several hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace LLP raised its holdings in Pfizer by 279.3% in the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after buying an additional 8,378,173 shares during the period. Swedbank AB purchased a new position in shares of Pfizer in the 1st quarter valued at $172,902,000. International Assets Investment Management LLC acquired a new position in shares of Pfizer during the 3rd quarter valued at $146,481,000. Pzena Investment Management LLC boosted its position in Pfizer by 181.6% during the 1st quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after purchasing an additional 4,947,000 shares during the period. Finally, 1832 Asset Management L.P. boosted its position in Pfizer by 24,961.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company’s stock worth $69,891,000 after purchasing an additional 2,487,919 shares during the period. 68.36% of the stock is 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.