Pfizer (NYSE:PFE) Trading Up 1.1% - Here's Why

Pfizer Inc. (NYSE:PFE - Get Free Report)'s stock price was up 1.1% during trading on Wednesday . The stock traded as high as $24.96 and last traded at $24.88. Approximately 7,685,749 shares changed hands during trading, a decline of 82% from the average daily volume of 41,747,920 shares. The stock had previously closed at $24.61.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PFE shares. Berenberg Bank lowered their price target on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. The Goldman Sachs Group lifted their price target on shares of Pfizer from $25.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Jefferies Financial Group lifted their price target on shares of Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. UBS Group boosted their price objective on shares of Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Finally, BMO Capital Markets decreased their price objective on shares of Pfizer from $36.00 to $30.00 in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $28.55.

Pfizer Stock Performance

The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 0.96. The stock's 50 day simple moving average is $23.99 and its two-hundred day simple moving average is $24.77. The stock has a market cap of $139.79 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 0.90 and a beta of 0.58.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.25. The firm had revenue of $13.72 billion for the quarter, compared to analyst estimates of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The business's revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 earnings per share. As a group, research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.00%. The ex-dividend date is Friday, July 25th. Pfizer's dividend payout ratio is presently 124.64%.

Institutional Trading of Pfizer

A number of institutional investors have recently made changes to their positions in PFE. Clarity Asset Management Inc. bought a new stake in shares of Pfizer in the fourth quarter worth $27,000. Gould Capital LLC lifted 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 worth $27,000 after purchasing an additional 493 shares in the last quarter. GKV Capital Management Co. Inc. acquired a new position in Pfizer during the first quarter worth $27,000. North Capital Inc. acquired a new position in Pfizer during the first quarter worth $28,000. Finally, Bayforest Capital Ltd acquired a new position in Pfizer during the first quarter worth $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.