Pfizer (NYSE:PFE) Trading Up 0.4% - Here's What Happened

Shares of Pfizer Inc. (NYSE:PFE - Get Free Report) shot up 0.4% during mid-day trading on Thursday . The company traded as high as $26.09 and last traded at $25.99. 10,202,379 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 38,546,367 shares. The stock had previously closed at $25.89.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PFE. Citigroup began coverage on Pfizer in a report on Friday, October 25th. They issued a "neutral" rating and a $30.00 price objective for the company. Guggenheim decreased their price target on Pfizer from $35.00 to $33.00 and set a "buy" rating for the company in a report on Wednesday, December 11th. StockNews.com lowered shares of Pfizer from a "strong-buy" rating to a "buy" rating in a report on Wednesday, November 20th. Evercore ISI upgraded shares of Pfizer to a "strong-buy" rating in a research note on Wednesday, October 30th. Finally, Bank of America restated a "neutral" rating and set a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.14.

Pfizer Stock Down 0.5 %

The stock has a market capitalization of $146.04 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 0.63 and a beta of 0.65. 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 business has a fifty day moving average of $26.95 and a 200 day moving average of $28.22.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) 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%. Pfizer's revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.17) EPS. As a group, equities analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be given a $0.43 dividend. This is an increase from Pfizer's previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.67%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer's payout ratio is currently 232.43%.

Insider Activity

In related news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now directly owns 10,000 shares of the company's stock, valued at $282,400. This trade represents a 11.11 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.06% of the company's stock.

Institutional Investors Weigh In On Pfizer

A number of large investors have recently modified their holdings of the company. FAS Wealth Partners Inc. lifted its stake in Pfizer by 1.3% during the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company's stock worth $736,000 after purchasing an additional 342 shares during the last quarter. Sachetta LLC lifted its position in shares of Pfizer by 7.3% during the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company's stock worth $140,000 after buying an additional 342 shares during the last quarter. Wells Trecaso Financial Group LLC boosted its holdings in shares of Pfizer by 2.5% in the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company's stock valued at $416,000 after buying an additional 350 shares in the last quarter. Secure Asset Management LLC grew its position in shares of Pfizer by 0.6% in the 2nd quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company's stock valued at $1,632,000 after buying an additional 353 shares during the last quarter. Finally, Washington Trust Advisors Inc. raised its stake in Pfizer by 0.7% during the 3rd quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company's stock worth $1,424,000 after acquiring an additional 360 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

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.