Pfizer (NYSE:PFE) Stock Price Up 1.9% – What’s Next?

Pfizer Inc. (NYSE:PFE) shares traded up 1.9% during mid-day trading on Tuesday . The company traded as high as $29.74 and last traded at $29.64. 7,338,895 shares were traded during trading, a decline of 80% from the average session volume of 37,173,520 shares. The stock had previously closed at $29.08.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Wells Fargo & Company raised their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, Barclays raised their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Up 0.9 %

The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The stock has a 50 day simple moving average of $29.02 and a 200 day simple moving average of $28.40. The firm has a market capitalization of $166.20 billion, a PE ratio of -494.00, a PEG ratio of 1.30 and a beta of 0.67.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 EPS. As a group, sell-side analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.73%. Pfizer’s dividend payout ratio is currently -2,800.00%.

Institutional Investors Weigh In On Pfizer

A number of large investors have recently made changes to their positions in the business. Scarborough Advisors LLC bought a new stake in shares of Pfizer during the fourth quarter valued at approximately $124,000. Creekmur Asset Management LLC bought a new stake in shares of Pfizer during the fourth quarter valued at approximately $32,000. SageView Advisory Group LLC boosted its position in shares of Pfizer by 2.2% during the fourth quarter. SageView Advisory Group LLC now owns 45,186 shares of the biopharmaceutical company’s stock valued at $1,221,000 after purchasing an additional 973 shares in the last quarter. Stonehearth Capital Management LLC boosted its position in shares of Pfizer by 16.8% during the first quarter. Stonehearth Capital Management LLC now owns 10,463 shares of the biopharmaceutical company’s stock valued at $290,000 after purchasing an additional 1,506 shares in the last quarter. Finally, Cravens & Co Advisors LLC boosted its position in shares of Pfizer by 9.6% during the first quarter. Cravens & Co Advisors LLC now owns 19,135 shares of the biopharmaceutical company’s stock valued at $531,000 after purchasing an additional 1,681 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

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.