Pfizer Inc. (NYSE:PFE - Get Free Report)'s share price traded up 3.6% during trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $23.96 and last traded at $23.88. 38,018,334 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 40,593,660 shares. The stock had previously closed at $23.05.
The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. During the same quarter last year, the firm posted $0.82 earnings per share. Pfizer's revenue was down 7.8% on a year-over-year basis.
Pfizer Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be paid 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 7.19%. Pfizer's dividend payout ratio is presently 124.64%.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the stock. UBS Group boosted their price objective on shares of Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Wednesday. Citigroup reiterated a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. Guggenheim restated a "buy" rating on shares of Pfizer in a research note on Tuesday, March 18th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $25.00 target price (down previously from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $29.64.
Get Our Latest Analysis on Pfizer
Insider Buying and Selling at Pfizer
In other news, Director Ronald E. Blaylock acquired 19,457 shares of Pfizer stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $25.65 per share, with a total value of $499,072.05. Following the completion of the transaction, the director now owns 27,707 shares in the company, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.06% of the company's stock.
Institutional Investors Weigh In On Pfizer
Hedge funds and other institutional investors have recently made changes to their positions in the company. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in Pfizer by 4.0% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 34,457 shares of the biopharmaceutical company's stock worth $873,000 after buying an additional 1,331 shares during the last quarter. Florida Financial Advisors LLC bought a new stake in Pfizer in the first quarter worth approximately $246,000. Bleakley Financial Group LLC increased its stake in shares of Pfizer by 21.7% during the 1st quarter. Bleakley Financial Group LLC now owns 102,327 shares of the biopharmaceutical company's stock worth $2,593,000 after purchasing an additional 18,268 shares during the last quarter. ELCO Management Co. LLC raised its holdings in shares of Pfizer by 23.8% during the 1st quarter. ELCO Management Co. LLC now owns 31,407 shares of the biopharmaceutical company's stock valued at $796,000 after purchasing an additional 6,031 shares in the last quarter. Finally, MQS Management LLC acquired a new stake in shares of Pfizer in the 1st quarter valued at $602,000. 68.36% of the stock is owned by hedge funds and other institutional investors.
Pfizer Price Performance
The stock's fifty day moving average is $24.39 and its 200-day moving average is $25.82. 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 capitalization of $135.59 billion, a P/E ratio of 16.96, a PEG ratio of 0.64 and a beta of 0.67.
Pfizer Company Profile
(
Get Free Report)
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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