Pfizer (NYSE:PFE) Trading Up 0.9% - Here's Why

Pfizer Inc. (NYSE:PFE - Get Free Report)'s stock price rose 0.9% during trading on Wednesday . The stock traded as high as $25.80 and last traded at $25.79. Approximately 7,103,489 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 37,091,980 shares. The stock had previously closed at $25.56.

Wall Street Analysts Forecast Growth

PFE has been the subject of several analyst reports. Evercore ISI upgraded shares of Pfizer to a "strong-buy" rating in a research note on Wednesday, October 30th. Guggenheim reiterated a "buy" rating and issued a $33.00 price objective on shares of Pfizer in a research note on Monday, February 10th. Bank of America reiterated a "neutral" rating and issued a $29.00 price objective on shares of Pfizer in a research note on Tuesday, December 10th. StockNews.com lowered shares of Pfizer from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, November 20th. Finally, Citigroup decreased their price objective on shares of Pfizer from $30.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $31.92.

Pfizer Stock Performance

The company's 50 day moving average price is $26.30 and its 200-day moving average price is $27.42. 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 company has a market cap of $149.14 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.15. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business had revenue of $17.76 billion during the quarter, compared to analyst estimates of $17.26 billion. During the same period in the previous year, the business earned $0.10 EPS. Pfizer's revenue was up 24.7% compared to the same quarter last year. Equities research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.54%. 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 payout ratio is currently 121.99%.

Insider Activity at Pfizer

In other Pfizer news, Director Ronald E. Blaylock acquired 19,457 shares of Pfizer stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the purchase, the director now owns 27,707 shares of the company's stock, valued at approximately $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Pfizer during the 4th quarter valued at $2,328,986,000. Charles Schwab Investment Management Inc. grew its position in shares of Pfizer by 19.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company's stock valued at $4,124,330,000 after purchasing an additional 25,315,159 shares in the last quarter. Starboard Value LP purchased a new position in shares of Pfizer during the 4th quarter valued at $407,730,000. Raymond James Financial Inc. purchased a new position in shares of Pfizer during the 4th quarter valued at $274,694,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Pfizer by 22.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company's stock valued at $1,101,713,000 after purchasing an additional 6,977,587 shares in the last quarter. 68.36% of the stock is currently 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.