Pfizer (NYSE:PFE) Trading Up 1.8% – Here’s Why

Pfizer Inc. (NYSE:PFE)’s share price shot up 1.8% on Friday . The stock traded as high as $25.64 and last traded at $25.59. 8,927,758 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 38,337,441 shares. The stock had previously closed at $25.13.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PFE. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. UBS Group raised their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wolfe Research began coverage on Pfizer in a research note on Friday, November 15th. They set an “underperform” rating and a $25.00 price target for the company. Finally, Sanford C. Bernstein initiated 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 on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.92.

Pfizer Stock Up 1.8 %

The company has a market cap of $145.02 billion, a price-to-earnings ratio of 34.58, a P/E/G ratio of 0.80 and a beta of 0.67. 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 50-day moving average price of $28.28 and a 200 day moving average price of $28.58.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter in the previous year, the business posted ($0.17) earnings per share. Pfizer’s quarterly revenue was up 31.2% on a year-over-year basis. Sell-side analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.57%. Pfizer’s payout ratio is 227.03%.

Insider Buying and Selling

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pfizer

Institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. acquired a new stake in Pfizer in the first quarter valued at $315,000. Edgestream Partners L.P. bought a new position in shares of Pfizer in the 1st quarter worth about $243,000. Stonebridge Capital Advisors LLC increased its holdings in Pfizer by 35.2% in the first quarter. Stonebridge Capital Advisors LLC now owns 26,586 shares of the biopharmaceutical company’s stock worth $738,000 after purchasing an additional 6,921 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in Pfizer by 123.9% during the first quarter. Gamco Investors INC. ET AL now owns 533,251 shares of the biopharmaceutical company’s stock worth $14,798,000 after acquiring an additional 295,139 shares in the last quarter. Finally, Gabelli Funds LLC raised its holdings in shares of Pfizer by 23.1% during the first quarter. Gabelli Funds LLC now owns 710,413 shares of the biopharmaceutical company’s stock valued at $19,714,000 after purchasing an additional 133,200 shares during the period. Institutional investors and hedge funds 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.