Pfizer (NYSE:PFE) Stock Price Up 0.8% – Here’s Why

Shares of Pfizer Inc. (NYSE:PFE) shot up 0.8% on Thursday . The company traded as high as $26.85 and last traded at $26.83. 6,586,845 shares were traded during trading, a decline of 81% from the average session volume of 34,381,762 shares. The stock had previously closed at $26.62.

Analysts Set New Price Targets

Several brokerages have issued reports on PFE. Citigroup cut their price objective on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday. 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 research report on Wednesday, December 11th. Wolfe Research assumed coverage on shares of Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective for the company. Bank of America reiterated a “neutral” rating and set a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. Finally, Sanford C. Bernstein started coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Stock Down 1.5 %

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 has a market cap of $150.20 billion, a P/E ratio of 35.82, a P/E/G ratio of 0.64 and a beta of 0.64. The business has a fifty day moving average of $26.27 and a 200 day moving average of $27.87.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The business 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%. Pfizer’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period last year, the company posted ($0.17) EPS. On average, equities research analysts predict that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Increases Dividend

The company 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 dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.49%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is currently 232.44%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PFE. Retirement Wealth Solutions LLC bought a new position in shares of Pfizer during the 4th quarter valued at about $26,000. Gladius Capital Management LP lifted its stake in Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 38,015 shares in the last quarter. Quarry LP acquired a new position in shares of Pfizer in the second quarter valued at approximately $31,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Pfizer during the third quarter worth $35,000. Finally, Joseph Group Capital Management raised its holdings in shares of Pfizer by 168.3% during the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 771 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

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.