Pfizer (NYSE:PFE) Shares Up 0.7% - Here's What Happened

Pfizer Inc. (NYSE:PFE - Get Free Report)'s stock price was up 0.7% on Friday . The stock traded as high as $26.10 and last traded at $25.87. Approximately 7,825,718 shares changed hands during trading, a decline of 80% from the average daily volume of 38,407,383 shares. The stock had previously closed at $25.70.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PFE. StockNews.com downgraded Pfizer from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 20th. Cantor Fitzgerald restated an "overweight" rating and issued a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. Sanford C. Bernstein started coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a "market perform" rating and a $32.00 price target on the stock. Evercore ISI raised shares of Pfizer to a "strong-buy" rating in a research report on Wednesday, October 30th. Finally, Wolfe Research began coverage on Pfizer in a research report on Friday, November 15th. They set an "underperform" rating and a $25.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $32.92.

Pfizer Stock Down 0.1 %

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 stock's fifty day simple moving average is $27.54 and its 200-day simple moving average is $28.40. The stock has a market cap of $145.47 billion, a P/E ratio of 34.96, a PEG ratio of 0.69 and a beta of 0.65.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter last year, the business posted ($0.17) EPS. The business's revenue was up 31.2% on a year-over-year basis. On average, research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were issued a $0.42 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.54%. Pfizer's dividend payout ratio (DPR) is presently 227.03%.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the firm's stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, 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 is accessible through this link. 0.06% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pfizer

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Pfizer by 11.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company's stock valued at $3,766,366,000 after buying an additional 12,864,343 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Pfizer by 279.3% during the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company's stock worth $150,481,000 after purchasing an additional 8,378,173 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Pfizer by 22.4% during the third 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. International Assets Investment Management LLC acquired a new position in Pfizer in the 3rd quarter valued at approximately $146,481,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Pfizer by 164.2% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company's stock worth $211,737,000 after buying an additional 4,546,809 shares in the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.