Pfizer (NYSE:PFE) Shares Up 2.4% – Here’s Why

Pfizer Inc. (NYSE:PFE) rose 2.4% on Tuesday. The stock traded as high as $30.25 and last traded at $30.1370. 34,224,934 shares changed hands during trading, a decline of 14% from the average daily volume of 40,024,027 shares. The stock had previously closed at $29.44.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Pfizer from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, October 9th. HSBC upped their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, September 10th. Cantor Fitzgerald raised their target price on shares of Pfizer from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, October 8th. Scotiabank raised their target price on shares of Pfizer from $30.00 to $33.00 and gave the company an “outperform” rating in a report on Tuesday, October 6th. Finally, Weiss Ratings upgraded shares of Pfizer from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 31st. Five equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $28.72.

Pfizer Price Performance

The company has a market capitalization of $170.28 billion, a PE ratio of 39.31, a P/E/G ratio of 2.04 and a beta of 0.32. The company has a current ratio of 1.27, a quick ratio of 0.96 and a debt-to-equity ratio of 0.71. The stock has a fifty day simple moving average of $28.19 and a 200-day simple moving average of $26.59.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.09. Pfizer had a return on equity of 19.63% and a net margin of 6.80%. The business had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.40 billion. During the same period in the prior year, the firm posted $0.78 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Pfizer has set its FY 2026 guidance at 2.800-3.000 EPS. Equities analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Friday, November 6th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Friday, November 6th. Pfizer’s dividend payout ratio is 226.32%.

Hedge Funds Weigh In On Pfizer

Hedge funds have recently added to or reduced their stakes in the stock. Bank Pictet & Cie Europe AG boosted its position in shares of Pfizer by 5.6% in the third quarter. Bank Pictet & Cie Europe AG now owns 338,410 shares of the biopharmaceutical company’s stock worth $9,651,000 after acquiring an additional 18,032 shares during the last quarter. Cornerstone National Bank & Trust Co grew its holdings in Pfizer by 37.7% in the third quarter. Cornerstone National Bank & Trust Co now owns 2,065 shares of the biopharmaceutical company’s stock valued at $58,000 after purchasing an additional 565 shares during the period. MBM Wealth Consultants LLC increased its position in Pfizer by 22.9% during the third quarter. MBM Wealth Consultants LLC now owns 22,666 shares of the biopharmaceutical company’s stock worth $646,000 after purchasing an additional 4,229 shares during the last quarter. Onyx Bridge Wealth Group LLC increased its position in Pfizer by 2.1% during the third quarter. Onyx Bridge Wealth Group LLC now owns 49,253 shares of the biopharmaceutical company’s stock worth $1,405,000 after purchasing an additional 1,006 shares during the last quarter. Finally, Banque Pictet & Cie SA purchased a new position in Pfizer during the third quarter worth approximately $252,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

About Pfizer

Pfizer Inc is a global biopharmaceutical company that discovers, develops, manufactures and commercializes prescription medicines and vaccines. Its research activities span areas including oncology, internal medicine, inflammation and immunology, hospital care, infectious diseases and rare diseases.

The company’s portfolio includes medicines such as Eliquis, Ibrance, Prevnar and Vyndaqel, as well as vaccines including Comirnaty, Abrysvo and Prevnar. Pfizer also develops treatments through internal research, licensing agreements and collaborations with other pharmaceutical and biotechnology companies.

Founded in Brooklyn, New York, in 1849 by Charles Pfizer and Charles Erhart, Pfizer has grown into an international healthcare company serving patients and healthcare providers in markets around the world.