Pfizer (NYSE:PFE) Trading Up 0.4% After Dividend Announcement

Pfizer Inc. (NYSE:PFE - Get Free Report) shares were up 0.4% during mid-day trading on Wednesday following a dividend announcement from the company. The stock traded as high as $23.06 and last traded at $22.63. Approximately 18,637,140 shares traded hands during trading, a decline of 54% from the average daily volume of 40,372,067 shares. The stock had previously closed at $22.53.

The newly announced dividend which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 7.49%. The ex-dividend date is Friday, May 9th. Pfizer's dividend payout ratio (DPR) is presently 121.99%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Guggenheim reissued a "buy" rating on shares of Pfizer in a research note on Tuesday, March 18th. Hsbc Global Res raised shares of Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $25.00 price objective (down previously from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. UBS Group lowered their target price on shares of Pfizer from $28.00 to $24.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, Cantor Fitzgerald began coverage on shares of Pfizer in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 target price for the company. One investment 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. Based on data from MarketBeat, Pfizer currently has an average rating of "Moderate Buy" and a consensus price target of $29.57.

Pfizer Trading Up 0.7 %

The company's 50-day moving average price is $24.58 and its 200 day moving average price is $25.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The stock has a market cap of $130.16 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 0.64 and a beta of 0.67.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.15. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm had revenue of $17.76 billion during the quarter, compared to the consensus estimate of $17.26 billion. During the same period last year, the company earned $0.10 EPS. The company's quarterly revenue was up 24.7% on a year-over-year basis. On average, sell-side analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Insider Buying and Selling at Pfizer

In related news, Director Ronald E. Blaylock acquired 19,457 shares of Pfizer stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the purchase, the director now owns 27,707 shares in the company, valued at approximately $710,684.55. The trade was a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pfizer

Institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB raised its stake in Pfizer by 36.1% during the 4th quarter. Nordea Investment Management AB now owns 4,071,700 shares of the biopharmaceutical company's stock valued at $108,002,000 after acquiring an additional 1,080,822 shares during the last quarter. Parsons Capital Management Inc. RI grew its stake in Pfizer by 118.7% in the 4th quarter. Parsons Capital Management Inc. RI now owns 294,764 shares of the biopharmaceutical company's stock worth $7,820,000 after acquiring an additional 159,984 shares during the period. Copley Financial Group Inc. acquired a new position in shares of Pfizer in the 3rd quarter valued at $577,000. Mcdonald Partners LLC increased its position in Pfizer by 9.9% during the 4th quarter. Mcdonald Partners LLC now owns 110,296 shares of the biopharmaceutical company's stock worth $2,926,000 after purchasing an additional 9,963 shares in the last quarter. Finally, Merit Financial Group LLC boosted its position in shares of Pfizer by 60.8% in the fourth quarter. Merit Financial Group LLC now owns 127,967 shares of the biopharmaceutical company's stock worth $3,395,000 after buying an additional 48,397 shares during the period. 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.