Pfizer (NYSE:PFE) Stock Price Up 0.4% – What’s Next?

Shares of Pfizer Inc. (NYSE:PFE) were up 0.4% on Thursday . The stock traded as high as $27.59 and last traded at $27.47. Approximately 9,234,457 shares changed hands during trading, a decline of 75% from the average daily volume of 37,312,910 shares. The stock had previously closed at $27.36.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PFE shares. UBS Group increased their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Sanford C. Bernstein initiated coverage on Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. Barclays increased their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company increased their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Trading Down 1.2 %

The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 1.00. The company has a market cap of $151.42 billion, a P/E ratio of 36.12, a price-to-earnings-growth ratio of 0.87 and a beta of 0.67. The stock has a 50-day moving average of $28.89 and a two-hundred day moving average of $28.63.

Pfizer (NYSE:PFE) last posted its quarterly earnings data 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 company had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.17) EPS. On average, equities research analysts predict that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is 227.03%.

Insiders Place Their Bets

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of Pfizer stock in a transaction on Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

Institutional investors and hedge funds have recently modified their holdings of the company. Olistico Wealth LLC purchased a new position in shares of Pfizer in the 2nd quarter worth $25,000. Gladius Capital Management LP boosted its stake in shares of Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 38,015 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of Pfizer in the 2nd quarter worth $29,000. Quarry LP purchased a new position in shares of Pfizer in the 2nd quarter worth $31,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Pfizer in the 2nd quarter worth $34,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

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.