Pfizer (NYSE:PFE) Stock Price Up 0.3% After Dividend Announcement

Pfizer Inc. (NYSE:PFE) shares were up 0.3% on Friday following a dividend announcement from the company. The stock traded as high as $25.50 and last traded at $25.44. Approximately 6,839,970 shares were traded during mid-day 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. Shareholders 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 yield of 6.74%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is presently 227.03%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Evercore ISI raised Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Bank of America restated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a report on Tuesday. Sanford C. Bernstein began coverage on Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. 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 lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.43.

Pfizer Trading Up 0.6 %

The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm has a market cap of $144.68 billion, a P/E ratio of 34.38, a PEG ratio of 0.63 and a beta of 0.65. The company’s 50 day moving average is $27.23 and its two-hundred day moving average is $28.29.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share 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 analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. Pfizer’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.17) EPS. On average, sell-side analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Swiss National Bank increased its position in shares of Pfizer by 0.6% during the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after purchasing an additional 100,900 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Pfizer by 11.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after buying an additional 12,864,343 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Pfizer by 80.9% during the third quarter. Empowered Funds LLC now owns 508,256 shares of the biopharmaceutical company’s stock worth $14,709,000 after buying an additional 227,349 shares in the last quarter. Addison Advisors LLC raised its stake in shares of Pfizer by 394.2% in the third quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock valued at $1,512,000 after acquiring an additional 41,668 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of Pfizer by 26.0% in the 3rd quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company’s stock worth $89,872,000 after acquiring an additional 639,985 shares in the last quarter. 68.36% of the stock is currently 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.