Pfizer (NYSE:PFE) Trading 2.3% Higher – What’s Next?

Pfizer Inc. (NYSE:PFE) shares shot up 2.3% during mid-day trading on Tuesday . The company traded as high as $27.57 and last traded at $27.50. 11,456,110 shares were traded during mid-day trading, a decline of 62% from the average session volume of 29,811,535 shares. The stock had previously closed at $26.89.

Wall Street Analyst Weigh In

PFE has been the subject of several research analyst reports. Citigroup assumed coverage on shares of Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price for the company. Bank of America restated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Finally, StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.15.

Pfizer Price Performance

The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $153.86 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 0.63 and a beta of 0.64. The business has a 50-day moving average price of $26.29 and a two-hundred day moving average price of $28.07.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.17) EPS. As a group, research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, January 24th. This is a boost from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.34%. Pfizer’s dividend payout ratio is currently 232.43%.

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the stock in a transaction dated 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 acquisition, the director now owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 11.11 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

A number of large investors have recently added to or reduced their stakes in the stock. Sachetta LLC grew its position in Pfizer by 7.3% in the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 342 shares during the period. Wells Trecaso Financial Group LLC increased its position in Pfizer by 2.5% during the third quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after acquiring an additional 350 shares during the last quarter. Washington Trust Advisors Inc. lifted its holdings in Pfizer by 0.7% in the third quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock valued at $1,424,000 after acquiring an additional 360 shares during the period. Cullen Investment Group LTD. grew its stake in shares of Pfizer by 0.9% during the 3rd quarter. Cullen Investment Group LTD. now owns 42,677 shares of the biopharmaceutical company’s stock valued at $1,235,000 after purchasing an additional 377 shares during the period. Finally, MidWestOne Financial Group Inc. lifted its stake in shares of Pfizer by 1.5% in the 2nd quarter. MidWestOne Financial Group Inc. now owns 26,530 shares of the biopharmaceutical company’s stock worth $742,000 after purchasing an additional 386 shares during the period. 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.