Pfizer (NYSE:PFE) Trading Up 1.3% - Here's What Happened

Pfizer Inc. (NYSE:PFE - Get Free Report)'s share price traded up 1.3% on Tuesday . The stock 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

Several equities research analysts have issued reports on the company. Cantor Fitzgerald initiated coverage on Pfizer in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 target price for the company. Hsbc Global Res upgraded shares of Pfizer to a "strong-buy" rating in a research report on Monday, March 10th. UBS Group increased their price objective on shares of Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Guggenheim reissued a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $25.00 price objective (down previously from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Pfizer presently has a consensus rating of "Moderate Buy" and an average target price of $29.17.

Pfizer Price Performance

The company has a market cap of $130.45 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 0.64 and a beta of 0.58. The company's 50 day moving average price is $23.50 and its 200 day moving average price is $25.25. The company has a current ratio of 1.00, a quick ratio of 0.73 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.25. The firm had revenue of $13.72 billion during the quarter, compared to analysts' expectations of $14.43 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. Pfizer's revenue was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 earnings per share. Equities research analysts forecast 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 will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.72 annualized dividend and a yield of 7.50%. Pfizer's dividend payout ratio is presently 124.64%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PFE. Norges Bank purchased a new position in Pfizer during the 4th quarter valued at about $2,328,986,000. Charles Schwab Investment Management Inc. increased its stake in shares of Pfizer by 19.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company's stock worth $4,124,330,000 after purchasing an additional 25,315,159 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Pfizer by 856.8% in the 1st quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company's stock valued at $508,164,000 after buying an additional 17,957,928 shares in the last quarter. Amundi grew its holdings in Pfizer by 43.4% during the 1st quarter. Amundi now owns 52,090,403 shares of the biopharmaceutical company's stock valued at $1,265,277,000 after buying an additional 15,758,846 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Pfizer during the first quarter worth $389,861,000. Hedge funds and other 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.