Pfizer (NYSE:PFE) Stock Price Up 0.6% - Here's What Happened

Pfizer Inc. (NYSE:PFE - Get Free Report)'s share price was up 0.6% during mid-day trading on Monday . The company traded as high as $25.25 and last traded at $24.95. Approximately 12,913,725 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 38,117,711 shares. The stock had previously closed at $24.80.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on 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. Cantor Fitzgerald reissued an "overweight" rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. StockNews.com raised Pfizer from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, November 12th. 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 target price for the company. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a "neutral" rating to an "outperform" rating and upped their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.92.

Pfizer Stock Performance

The firm's 50-day moving average price is $28.64 and its 200-day moving average price is $28.67. 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 has a market cap of $141.05 billion, a P/E ratio of 33.72, a PEG ratio of 0.79 and a beta of 0.67.

Pfizer (NYSE:PFE - Get Free Report) last issued its 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. The firm had revenue of $17.70 billion for the quarter, compared to analysts' expectations of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business's revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.17) earnings per share. Sell-side analysts expect that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 6.75%. Pfizer's payout ratio is 227.03%.

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now directly owns 10,000 shares of the company's stock, valued at $282,400. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. FAS Wealth Partners Inc. grew its stake in Pfizer by 1.3% during the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company's stock valued at $736,000 after purchasing an additional 342 shares during the last quarter. Sachetta LLC boosted its position in Pfizer by 7.3% in the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company's stock valued at $140,000 after buying an additional 342 shares during the last quarter. Wells Trecaso Financial Group LLC increased its holdings in Pfizer by 2.5% in the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company's stock worth $416,000 after buying an additional 350 shares during the period. Ironvine Capital Partners LLC lifted its stake in Pfizer by 2.1% during the 1st quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company's stock valued at $470,000 after acquiring an additional 353 shares during the period. Finally, Secure Asset Management LLC increased its stake in shares of Pfizer by 0.6% in the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company's stock worth $1,632,000 after acquiring an additional 353 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

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.

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