Pfizer (NYSE:PFE) Trading 0.3% Higher After Dividend Announcement

Pfizer Inc. (NYSE:PFE)’s stock price rose 0.3% during trading on Friday after the company announced a dividend. The stock traded as high as $25.50 and last traded at $25.44. Approximately 6,839,970 shares traded hands during trading, a decline of 82% from the average daily volume of 38,396,117 shares. The stock had previously closed at $25.37.

The newly announced 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. This represents a $1.72 annualized dividend and a dividend yield of 6.72%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PFE shares. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Wolfe Research began coverage on shares of Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 price objective on the stock. Sanford C. Bernstein assumed coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price for the company. Finally, Guggenheim reduced their price target on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.43.

Pfizer Stock Performance

The firm has a market cap of $144.96 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65. The business has a 50 day simple moving average of $27.23 and a two-hundred day simple moving average of $28.29. 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 posted its quarterly 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 the consensus estimate of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm’s revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.17) EPS. As a group, equities research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $282,400. The trade was a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

A number of large investors have recently added to or reduced their stakes in PFE. MFA Wealth Advisors LLC purchased a new stake in shares of Pfizer during the second quarter worth about $29,000. Gladius Capital Management LP grew its position in Pfizer by 102.8% during the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 38,015 shares during the last quarter. Quarry LP acquired a new position in Pfizer during the 2nd quarter valued at approximately $31,000. Financial Connections Group Inc. purchased a new position in shares of Pfizer in the second quarter worth $34,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in shares of Pfizer during the third quarter worth $35,000. 68.36% of the stock is currently owned by institutional investors.

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.