Pfizer (NYSE:PFE) Stock Price Up 0.2% - What's Next?

Shares of Pfizer Inc. (NYSE:PFE - Get Free Report) shot up 0.2% during mid-day trading on Thursday . The stock traded as high as $23.00 and last traded at $22.84. 16,334,566 shares changed hands during trading, a decline of 60% from the average session volume of 40,334,529 shares. The stock had previously closed at $22.79.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of recent analyst reports. Cantor Fitzgerald began coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price target on the stock. Citigroup reissued a "neutral" rating on shares of Pfizer in a report on Thursday, March 27th. Guggenheim reaffirmed a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. Hsbc Global Res raised Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $25.00 price target (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, Pfizer presently has an average rating of "Moderate Buy" and a consensus target price of $29.17.

Pfizer Trading Down 3.0 %

The business's 50 day simple moving average is $24.02 and its 200-day simple moving average is $25.54. The stock has a market capitalization of $126.36 billion, a P/E ratio of 15.80, a PEG ratio of 0.64 and a beta of 0.58. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The business had revenue of $13.72 billion during the quarter, compared to analysts' expectations of $14.43 billion. During the same period in the previous year, the firm earned $0.82 earnings per share. The firm's quarterly revenue was down 7.8% compared to the same quarter last year. As a group, analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be issued a $0.43 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.72 annualized dividend and a yield of 7.72%. Pfizer's dividend payout ratio (DPR) is presently 124.64%.

Insider Activity

In other Pfizer news, Director Ronald E. Blaylock bought 19,457 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was purchased at an average cost of $25.65 per share, with a total value of $499,072.05. Following the completion of the purchase, the director now owns 27,707 shares in the company, valued at approximately $710,684.55. The trade was a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pfizer

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Pfizer by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 523,165,127 shares of the biopharmaceutical company's stock valued at $13,257,004,000 after acquiring an additional 4,629,976 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Pfizer by 19.5% in the fourth 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. Geode Capital Management LLC boosted its position in shares of Pfizer by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 120,589,782 shares of the biopharmaceutical company's stock worth $3,190,131,000 after buying an additional 2,923,537 shares during the period. Norges Bank acquired a new stake in Pfizer in the 4th quarter valued at approximately $2,328,986,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in Pfizer by 7.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock valued at $2,029,604,000 after acquiring an additional 5,350,381 shares in the last quarter. 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.