Pfizer (NYSE:PFE) Trading 2.3% Higher Following Dividend Announcement

Pfizer Inc. (NYSE:PFE) shares rose 2.3% on Monday after the company announced a dividend. The stock traded as high as $26.65 and last traded at $26.4470. Approximately 60,076,835 shares changed hands 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. Shareholders of record on Friday, January 23rd will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, January 23rd. This represents a $1.72 annualized dividend and a yield of 6.5%. Pfizer’s payout ratio is currently 100.00%.

Wall Street Analyst Weigh In

Several analysts have issued reports on PFE shares. HSBC restated a “buy” rating and set a $29.00 price target on shares of Pfizer in a research report on Wednesday, December 10th. Scotiabank started coverage on Pfizer in a research report on Thursday, November 13th. They set a “sector outperform” rating and a $30.00 price target on the stock. Morgan Stanley decreased their price target on Pfizer from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Friday. BMO Capital Markets reissued an “outperform” rating on shares of Pfizer in a research note on Wednesday. Finally, Citigroup assumed coverage on shares of Pfizer in a report on Tuesday, December 2nd. They issued a “neutral” rating and a $26.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $28.22.

Pfizer Stock Up 2.3%

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.28 and a quick ratio of 0.97. The stock has a market capitalization of $150.37 billion, a PE ratio of 15.38 and a beta of 0.46. The company has a 50 day moving average price of $25.12 and a 200-day moving average price of $24.78.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.08. The business 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. As a group, analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pfizer

A number of institutional investors have recently bought and sold shares of the stock. GKV Capital Management Co. Inc. purchased a new position in Pfizer during the first quarter valued at $27,000. Curio Wealth LLC grew its stake in shares of Pfizer by 36,600.0% in the second quarter. Curio Wealth LLC now owns 1,101 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 1,098 shares during the last quarter. Bayforest Capital Ltd bought a new position in shares of Pfizer during the first quarter valued at $28,000. Grey Fox Wealth Advisors LLC purchased a new position in shares of Pfizer in the 3rd quarter worth about $29,000. Finally, Harbor Asset Planning Inc. bought a new position in Pfizer in the 2nd quarter worth about $29,000. 68.36% of the stock is owned by institutional investors.

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.