Pfizer (NYSE:PFE) Stock Price Up 1.3% - Here's Why

Pfizer Inc. (NYSE:PFE - Get Free Report) shot up 1.3% during mid-day trading on Tuesday . The company traded as high as $23.70 and last traded at $23.29. 19,535,057 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 40,822,202 shares. The stock had previously closed at $23.00.

Wall Street Analysts Forecast Growth

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

Pfizer Stock Performance

The stock has a market capitalization of $132.66 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 0.64 and a beta of 0.58. The company's fifty day simple moving average is $23.38 and its 200 day simple moving average is $25.19. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

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

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be given a $0.43 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.37%. Pfizer's payout ratio is presently 124.64%.

Institutional Investors Weigh In On Pfizer

Institutional investors have recently modified their holdings of the business. Rialto Wealth Management LLC bought a new stake in shares of Pfizer in the fourth quarter valued at about $26,000. Clarity Asset Management Inc. bought a new stake in shares of Pfizer in the fourth quarter valued at about $27,000. Gould Capital LLC boosted its position in shares of Pfizer by 97.2% in the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 493 shares during the period. GKV Capital Management Co. Inc. bought a new stake in shares of Pfizer in the first quarter valued at about $27,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Pfizer in the fourth quarter valued at about $28,000. Institutional investors own 68.36% of the company's stock.

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.