Pfizer (NYSE:PFE) Trading Up 0.5% – Here’s What Happened

Pfizer Inc. (NYSE:PFE) shares shot up 0.5% on Friday . The stock traded as high as $26.85 and last traded at $26.70. 8,220,099 shares changed hands during trading, a decline of 79% from the average session volume of 38,787,426 shares. The stock had previously closed at $26.56.

Analyst Ratings Changes

A number of research firms recently weighed in on PFE. Citigroup started coverage on Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target for the company. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Truist Financial reduced 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. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price on the stock. Finally, Evercore ISI upgraded Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and a consensus target price of $32.14.

Pfizer Stock Performance

The stock has a 50-day moving average of $26.55 and a 200 day moving average of $28.10. The firm has a market capitalization of $150.86 billion, a P/E ratio of 35.97, a price-to-earnings-growth 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 announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.17) earnings per share. On average, research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.46%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s payout ratio is presently 232.43%.

Insider Buying and Selling

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of Pfizer stock in a transaction dated Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Pfizer

A number of institutional investors have recently bought and sold shares of PFE. Concurrent Investment Advisors LLC lifted its stake in Pfizer by 66.5% in the second quarter. Concurrent Investment Advisors LLC now owns 155,824 shares of the biopharmaceutical company’s stock valued at $4,360,000 after buying an additional 62,249 shares during the period. IFG Advisory LLC increased its stake in shares of Pfizer by 6.9% in the 2nd quarter. IFG Advisory LLC now owns 38,185 shares of the biopharmaceutical company’s stock valued at $1,068,000 after acquiring an additional 2,478 shares during the last quarter. Graypoint LLC raised its position in shares of Pfizer by 1.8% in the 2nd quarter. Graypoint LLC now owns 32,765 shares of the biopharmaceutical company’s stock valued at $917,000 after acquiring an additional 566 shares during the period. Confluence Wealth Services Inc. boosted its stake in Pfizer by 9.3% during the 2nd quarter. Confluence Wealth Services Inc. now owns 67,024 shares of the biopharmaceutical company’s stock worth $1,875,000 after acquiring an additional 5,704 shares during the last quarter. Finally, Advisors Management Group Inc. ADV grew its holdings in Pfizer by 1.2% during the second quarter. Advisors Management Group Inc. ADV now owns 185,412 shares of the biopharmaceutical company’s stock valued at $5,188,000 after purchasing an additional 2,284 shares during the period. Institutional investors and hedge funds 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.