Pfizer (NYSE:PFE) Stock Price Up 0% - What's Next?

Pfizer Inc. (NYSE:PFE - Get Free Report)'s stock price rose 0% during trading on Wednesday . The stock traded as high as $23.09 and last traded at $22.89. Approximately 12,127,048 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 40,386,939 shares. The stock had previously closed at $22.88.

Analyst Ratings Changes

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

Pfizer Stock Performance

The firm has a market cap of $129.70 billion, a P/E ratio of 16.21, a P/E/G ratio of 0.64 and a beta of 0.58. 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 business's 50-day simple moving average is $24.22 and its 200 day simple moving average is $25.67.

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

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.52%. Pfizer's payout ratio is currently 124.64%.

Insiders Place Their Bets

In other Pfizer news, Director Ronald E. Blaylock bought 19,457 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $25.65 per share, with a total value of $499,072.05. Following the purchase, the director now owns 27,707 shares of the company's stock, valued at $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On Pfizer

Hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Pfizer in the 4th quarter valued at about $2,328,986,000. Charles Schwab Investment Management Inc. boosted its stake in 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 acquiring an additional 25,315,159 shares in the last quarter. Pacer Advisors Inc. grew its stake in Pfizer by 856.8% during the 1st quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company's stock worth $508,164,000 after buying an additional 17,957,928 shares during the last quarter. Starboard Value LP acquired a new position in shares of Pfizer during the fourth quarter valued at about $407,730,000. Finally, Raymond James Financial Inc. purchased a new stake in Pfizer during the 4th quarter worth approximately $274,694,000. 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.

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.