Pfizer Stock Sees Slight Increase Following Dividend Announcement

On Friday, shares of Pfizer Inc. (NYSE:PFE – Get Free Report) experienced a modest rise, climbing by 0.3% after the announcement of a new dividend. The stock hit a peak at $25.50 during trading and ended the day at $25.44. Trading volume was around 6,839,970 shares, notably lower than the average daily volume of 38,396,117 shares, reflecting an 82% decrease. The previous closing price was $25.37.

The company revealed that the newly declared dividend will be disbursed on Friday, March 7th. Shareholders who are on record as of Friday, January 24th, will receive a dividend of $0.43 per share. This payment translates to an annualized dividend of $1.72, resulting in a dividend yield of 6.72%. This marks an increase from Pfizer's earlier quarterly dividend set at $0.42. Additionally, the ex-dividend date for this payout is also Friday, January 24th. Currently, Pfizer's dividend payout ratio (DPR) stands at 227.03%.

Insights from Wall Street Analysts

Several analysts have recently provided their insights regarding PFE shares. StockNews.com transitioned Pfizer from a “strong-buy” rating to a “buy” rating in a note released on November 20th. In contrast, Evercore ISI upgraded their rating for the stock to “strong-buy” on October 30th. Wolfe Research initiated coverage with an “underperform” rating, setting a price target of $25.00. Meanwhile, Sanford C. Bernstein began coverage with a “market perform” rating and a $32.00 target price. Guggenheim has adjusted its price forecast for Pfizer from $35.00 to $33.00 while maintaining a “buy” recommendation. As per MarketBeat.com, the stock has received one sell rating, nine hold ratings, six buy ratings, and two strong buy ratings, leading to an average rating of “Moderate Buy” with a target price of $32.43.

Pfizer's Stock Performance Overview

Pfizer has a market capitalization of $144.96 billion, along with a price-to-earnings (P/E) ratio of 34.38 and a price-to-earnings-growth (PEG) ratio of 0.63. The stock's beta value is 0.65. Its 50-day and 200-day simple moving averages are $27.23 and $28.29, respectively. The quick ratio is reported at 0.73, while the current ratio is at 1.00, and the debt-to-equity ratio is 0.63.

Recently, the company shared its financial performance for the quarter ending October 29th. Pfizer reported earnings per share (EPS) of $1.06, exceeding the consensus estimate of $0.64 by $0.42. The total revenue for this quarter was $17.70 billion, surpassing the expected $14.92 billion. The net margin stood at 7.07%, and the return on equity was recorded at 16.28%. Year-over-year, Pfizer’s revenue increased by 31.2%. In the same quarter last year, the company had posted an EPS of ($0.17). Analysts project that Pfizer Inc. will achieve a forecasted EPS of 2.95 for the current fiscal year.

Insider Activity

In insider news, Director Scott Gottlieb acquired 1,000 shares of Pfizer stock on October 30th, completing the transaction at an average price of $28.24 per share, totaling $28,240. Following this buying activity, his ownership in the company increased by 11.11%, bringing his total holdings to 10,000 shares valued at $282,400. This transaction has been officially recorded in a filing with the SEC. Currently, company insiders own 0.06% of Pfizer's stock.

Institutional Investor Moves

Recently, several significant institutional investors have modified their holdings in PFE stock. MFA Wealth Advisors LLC initiated a new stake in Pfizer in the second quarter for approximately $29,000. Gladius Capital Management LP increased its position in the stock by 102.8% during the third quarter, owning 1,043 shares valued at around $30,000 after acquiring an additional 38,015 shares. Quarry LP also bought a new stake in Pfizer for about $31,000 in the second quarter, while Financial Connections Group Inc. followed suit with a new position worth $34,000. Teachers Insurance & Annuity Association of America entered a new stake during the third quarter worth approximately $35,000. Overall, institutional investors possess 68.36% of Pfizer's shares.

About Pfizer Inc.

Pfizer Inc. is engaged in discovering, developing, manufacturing, marketing, and selling biopharmaceutical products in the United States, Europe, and globally. The company offers various medicines and vaccines across therapeutic areas, including cardiovascular, metabolic diseases, migraine, and women’s health. Some of their prominent brands include Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family of products. Additionally, the company addresses infectious diseases through the Prevnar family and other products and is actively involved in the development of COVID-19 treatments like Comirnaty and Paxlovid.

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