Pfizer (NYSE:PFE) Trading 0.3% Higher - Here's Why

Pfizer Inc. (NYSE:PFE - Get Free Report) traded up 0.3% during mid-day trading on Friday . The stock traded as high as $27.00 and last traded at $26.94. 10,932,240 shares traded hands during trading, a decline of 65% from the average session volume of 31,681,477 shares. The stock had previously closed at $26.86.

Analysts Set New Price Targets

PFE has been the topic of a number of research reports. Wolfe Research began coverage on shares of Pfizer in a research note on Friday, November 15th. They issued an "underperform" rating and a $25.00 target price on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. StockNews.com downgraded Pfizer from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, November 20th. Bank of America reissued a "neutral" rating and issued a $29.00 price objective on shares of Pfizer in a report on Tuesday, December 10th. Finally, Citigroup assumed coverage on shares of Pfizer in a research note on Friday, October 25th. They set a "neutral" rating and a $30.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $32.00.

Pfizer Stock Performance

The company has a market capitalization of $151.48 billion, a price-to-earnings ratio of 36.12, a P/E/G ratio of 0.63 and a beta of 0.64. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The firm has a 50-day simple moving average of $26.18 and a two-hundred day simple moving average of $28.04.

Pfizer (NYSE:PFE - Get Free Report) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $14.92 billion. During the same period in the prior year, the business earned ($0.17) EPS. The firm's quarterly revenue was up 31.2% on a year-over-year basis. On average, sell-side analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a $0.43 dividend. This is a boost from Pfizer's previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. This represents a $1.72 annualized dividend and a yield of 6.43%. Pfizer's dividend payout ratio (DPR) is 232.43%.

Insiders Place Their Bets

In other Pfizer news, Director Scott Gottlieb purchased 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 completion of the acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Institutional Trading of Pfizer

Institutional investors have recently modified their holdings of the stock. Strategic Financial Concepts LLC purchased a new stake in Pfizer in the 2nd quarter valued at $38,000. Quest Partners LLC purchased a new position in shares of Pfizer during the second quarter worth about $570,000. Angeles Wealth Management LLC increased its position in Pfizer by 24.0% in the 2nd quarter. Angeles Wealth Management LLC now owns 11,580 shares of the biopharmaceutical company's stock valued at $324,000 after acquiring an additional 2,239 shares during the period. AGF Management Ltd. raised its stake in Pfizer by 6.7% during the 2nd quarter. AGF Management Ltd. now owns 1,223,841 shares of the biopharmaceutical company's stock valued at $34,243,000 after acquiring an additional 76,464 shares during the last quarter. Finally, HHM Wealth Advisors LLC lifted its position in Pfizer by 9.3% during the 2nd quarter. HHM Wealth Advisors LLC now owns 6,311 shares of the biopharmaceutical company's stock worth $177,000 after acquiring an additional 538 shares during the period. Hedge funds and other institutional investors own 68.36% of the company's stock.

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.