Pfizer (NYSE:PFE) Shares Gap Up – What’s Next?

Pfizer Inc. (NYSE:PFE)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $25.25, but opened at $25.90. Pfizer shares last traded at $26.01, with a volume of 15,650,850 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. Guggenheim lowered their price objective on Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Citigroup assumed coverage on Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price on the stock. Bank of America restated a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. Finally, Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.14.

Pfizer Trading Down 2.0 %

The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The firm’s 50-day simple moving average is $26.95 and its 200 day simple moving average is $28.22. The stock has a market capitalization of $146.72 billion, a P/E ratio of 34.99, a PEG ratio of 0.63 and a beta of 0.65.

Pfizer (NYSE:PFE) last posted 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. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same period in the previous year, the company posted ($0.17) EPS. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. Equities research analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.64%. This is a positive change 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 is 232.43%.

Insider Activity at Pfizer

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, with a total value 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 approximately $282,400. The trade was a 11.11 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pfizer

A number of large investors have recently bought and sold shares of PFE. My Legacy Advisors LLC bought a new stake in shares of Pfizer in the second quarter valued at approximately $370,000. JB Capital LLC increased its stake in Pfizer by 3.9% in the second quarter. JB Capital LLC now owns 178,347 shares of the biopharmaceutical company’s stock valued at $4,990,000 after acquiring an additional 6,766 shares during the period. Cornerstone Wealth Group LLC grew its position in Pfizer by 7.3% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 16,531 shares of the biopharmaceutical company’s stock worth $463,000 after acquiring an additional 1,119 shares during the last quarter. L. Roy Papp & Associates LLP raised its position in Pfizer by 8.7% in the 2nd quarter. L. Roy Papp & Associates LLP now owns 18,012 shares of the biopharmaceutical company’s stock valued at $504,000 after purchasing an additional 1,435 shares during the last quarter. Finally, Powers Advisory Group LLC boosted its stake in Pfizer by 4.1% in the second quarter. Powers Advisory Group LLC now owns 14,056 shares of the biopharmaceutical company’s stock worth $393,000 after purchasing an additional 560 shares in the last quarter. 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.