Pfizer (NYSE:PFE) Stock Price Up 2.3% Following Dividend Announcement

Shares of Pfizer Inc. (NYSE:PFE) rose 2.3% during mid-day trading on Monday after the company announced a dividend. The company traded as high as $26.65 and last traded at $26.4470. Approximately 60,076,835 shares were traded during trading, an increase of 17% from the average daily volume of 51,170,094 shares. The stock had previously closed at $25.85.

The newly announced dividend which will be paid on Friday, March 6th. Stockholders of record on Friday, January 23rd will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Friday, January 23rd. Pfizer’s payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

Several research analysts have commented on PFE shares. UBS Group reaffirmed a “neutral” rating and set a $28.00 price target on shares of Pfizer in a research report on Wednesday, October 1st. Bank of America lowered their target price on shares of Pfizer from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday. Morgan Stanley reduced their price target on shares of Pfizer from $32.00 to $28.00 and set an “equal weight” rating for the company in a research report on Friday. BMO Capital Markets reissued an “outperform” rating on shares of Pfizer in a research report on Wednesday, December 10th. Finally, Wall Street Zen cut shares of Pfizer from a “buy” rating to a “hold” rating in a report on Sunday, September 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $28.22.

Pfizer Stock Performance

The company has a market cap of $150.37 billion, a PE ratio of 15.38 and a beta of 0.46. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.97 and a current ratio of 1.28. The stock’s 50-day simple moving average is $25.12 and its 200 day simple moving average is $24.80.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The business had revenue of $16.65 billion for the quarter, compared to analyst estimates 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. As a group, equities analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Institutional Trading of Pfizer

Institutional investors have recently modified their holdings of the business. Capital Advisory Group Advisory Services LLC grew its stake in shares of Pfizer by 2.9% during the 2nd quarter. Capital Advisory Group Advisory Services LLC now owns 13,542 shares of the biopharmaceutical company’s stock worth $328,000 after purchasing an additional 388 shares during the period. Citizens National Bank Trust Department boosted its holdings in Pfizer by 0.9% during the second quarter. Citizens National Bank Trust Department now owns 46,103 shares of the biopharmaceutical company’s stock worth $1,118,000 after buying an additional 395 shares in the last quarter. Peak Asset Management LLC grew its position in Pfizer by 1.4% during the second quarter. Peak Asset Management LLC now owns 28,768 shares of the biopharmaceutical company’s stock worth $697,000 after buying an additional 402 shares during the period. Quest Investment Management LLC increased its holdings in Pfizer by 1.3% in the third quarter. Quest Investment Management LLC now owns 31,768 shares of the biopharmaceutical company’s stock valued at $809,000 after buying an additional 405 shares in the last quarter. Finally, Community Bank & Trust Waco Texas lifted its position in shares of Pfizer by 0.6% during the 3rd quarter. Community Bank & Trust Waco Texas now owns 66,841 shares of the biopharmaceutical company’s stock valued at $1,703,000 after acquiring an additional 412 shares during the period. 68.36% of the stock is currently owned by hedge funds and other 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.