Pfizer Sees Unusually High Options Volume (NYSE:PFE)

Pfizer Inc. (NYSE:PFE) was the recipient of unusually large options trading activity on Wednesday. Traders acquired 1,246,831 call options on the company. This is an increase of approximately 584% compared to the typical volume of 182,174 call options.

Analysts Set New Price Targets

Several research firms recently issued reports on PFE. BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 price objective (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Monday, April 15th. Guggenheim initiated coverage on Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective on the stock. Finally, Morgan Stanley lifted their target price on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $36.00.

Pfizer Price Performance

Shares of PFE opened at $28.28 on Thursday. The firm has a fifty day moving average price of $26.92 and a 200 day moving average price of $28.12. The stock has a market cap of $160.11 billion, a PE ratio of -471.17, a price-to-earnings-growth ratio of 1.17 and a beta of 0.63. Pfizer has a 1-year low of $25.20 and a 1-year high of $40.37. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69.

Pfizer (NYSE:PFE) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. The business had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the previous year, the company posted $1.23 EPS. The company’s quarterly revenue was down 19.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Pfizer will post 2.39 EPS for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 10th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.68 dividend on an annualized basis and a yield of 5.94%. Pfizer’s payout ratio is currently -2,799.53%.

Institutional Investors Weigh In On Pfizer

A number of hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after acquiring an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Pfizer by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after purchasing an additional 8,473,686 shares during the period. Morgan Stanley boosted its holdings in Pfizer by 0.4% during the third quarter. Morgan Stanley now owns 84,927,802 shares of the biopharmaceutical company’s stock worth $2,817,055,000 after buying an additional 348,628 shares in the last quarter. Norges Bank acquired a new position in Pfizer during the fourth quarter worth about $2,129,927,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in Pfizer by 13.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after buying an additional 8,298,920 shares in the last quarter. 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.