Pfizer (NYSE:PFE) Stock Price Up 1.8% – What’s Next?

Pfizer Inc. (NYSE:PFE) shares traded up 1.8% on Wednesday . The company traded as high as $25.89 and last traded at $25.5950. 51,320,329 shares changed hands during mid-day trading, a decline of 0% from the average session volume of 51,352,383 shares. The stock had previously closed at $25.15.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PFE. Guggenheim upped their price objective on Pfizer from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. Wall Street Zen downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Sunday, September 28th. Bank of America boosted their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Sanford C. Bernstein reiterated a “market perform” rating and set a $30.00 price objective on shares of Pfizer in a research note on Friday, October 31st. Finally, Scotiabank initiated coverage on Pfizer in a report on Thursday, November 13th. They issued a “sector outperform” rating and a $30.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Pfizer currently has an average rating of “Hold” and a consensus price target of $28.39.

Pfizer Price Performance

The company has a current ratio of 1.28, a quick ratio of 0.97 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average of $25.17 and a 200-day moving average of $24.67. The firm has a market capitalization of $147.97 billion, a P/E ratio of 15.13 and a beta of 0.46.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.79 by $0.08. The company had revenue of $16.65 billion for the quarter, compared to analysts’ expectations of $16.94 billion. Pfizer had a net margin of 15.65% and a return on equity of 20.17%. Pfizer has set its FY 2025 guidance at 3.000-3.150 EPS. On average, sell-side analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were given a $0.43 dividend. The ex-dividend date was Friday, November 7th. This represents a $1.72 annualized dividend and a dividend yield of 6.6%. Pfizer’s payout ratio is presently 100.00%.

Hedge Funds Weigh In On Pfizer

A number of institutional investors have recently modified their holdings of PFE. Vanguard Group Inc. grew its stake in shares of Pfizer by 1.9% during the second quarter. Vanguard Group Inc. now owns 533,363,457 shares of the biopharmaceutical company’s stock worth $12,928,730,000 after buying an additional 10,198,330 shares during the last quarter. State Street Corp raised its holdings in Pfizer by 0.9% in the 3rd quarter. State Street Corp now owns 299,087,408 shares of the biopharmaceutical company’s stock valued at $7,620,747,000 after buying an additional 2,786,098 shares during the last quarter. Geode Capital Management LLC raised its holdings in Pfizer by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 127,471,481 shares of the biopharmaceutical company’s stock valued at $3,080,552,000 after buying an additional 1,820,634 shares during the last quarter. Norges Bank acquired a new position in shares of Pfizer during the second quarter worth $2,270,157,000. Finally, Northern Trust Corp increased its holdings in Pfizer by 1.4% in the third quarter. Northern Trust Corp now owns 64,019,807 shares of the biopharmaceutical company’s stock valued at $1,631,225,000 after purchasing an additional 869,175 shares during the period. Institutional investors and hedge funds 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.