Pfizer (NYSE:PFE) Trading Up 1.6% - Here's What Happened

Key Points

• Pfizer's stock price increased by 1.6% during mid-day trading, reaching $25.79, although the trading volume was down significantly compared to the average.
• Analysts have mixed outlooks on Pfizer, with price targets ranging from $25.00 to $33.00 and a consensus rating of "Hold" with a target price of $28.12.
• The company reported a quarterly EPS of $0.78, exceeding analysts' estimates, and announced a quarterly dividend of $0.43 per share, yielding 6.7%.

Pfizer Inc. (NYSE:PFE - Get Free Report)'s stock price was up 1.6% during mid-day trading on Thursday . The stock traded as high as $25.74 and last traded at $25.79. Approximately 8,413,189 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 45,209,770 shares. The stock had previously closed at $25.38.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PFE shares. UBS Group upped their price objective on Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Leerink Partners lowered their target price on shares of Pfizer from $28.00 to $26.00 and set a "market perform" rating for the company in a research note on Wednesday, April 30th. The Goldman Sachs Group lifted their target price on shares of Pfizer from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Morgan Stanley lifted their target price on shares of Pfizer from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Finally, HSBC lowered their target price on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $28.12.

Pfizer Price Performance

The company's 50 day moving average price is $24.66 and its 200-day moving average price is $24.42. The company has a market capitalization of $146.94 billion, a PE ratio of 13.74, a PEG ratio of 0.90 and a beta of 0.52. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The company had revenue of $14.65 billion during the quarter, compared to analysts' expectations of $13.43 billion. During the same period in the previous year, the company earned $0.60 EPS. The business's quarterly revenue was up 10.3% compared to the same quarter last year. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. On average, sell-side analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, July 25th. This represents a $1.72 annualized dividend and a dividend yield of 6.7%. Pfizer's payout ratio is presently 91.49%.

Hedge Funds Weigh In On Pfizer

Several hedge funds and other institutional investors have recently made changes to their positions in PFE. Norges Bank acquired a new position in shares of Pfizer during the 2nd quarter valued at $2,270,157,000. Pacer Advisors Inc. lifted its holdings in shares of Pfizer by 856.8% during the 1st quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company's stock valued at $508,164,000 after acquiring an additional 17,957,928 shares in the last quarter. Amundi lifted its holdings in shares of 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 acquiring an additional 15,758,846 shares in the last quarter. Nuveen LLC acquired a new position in shares of Pfizer during the 1st quarter valued at $389,861,000. Finally, Starboard Value LP acquired a new position in shares of Pfizer during the 4th quarter valued at $407,730,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.