Pfizer (NYSE:PFE) Stock Price Up 1.4% Following Strong Earnings

Pfizer Inc. (NYSE:PFE)’s stock price rose 1.4% on Wednesday following a stronger than expected earnings report. The stock traded as high as $24.67 and last traded at $24.64. Approximately 106,907,239 shares were traded during mid-day trading, an increase of 119% from the average daily volume of 48,838,289 shares. The stock had previously closed at $24.30.

The biopharmaceutical company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.08. The company had revenue of $16.65 billion during the quarter, compared to analyst estimates of $16.94 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%. Pfizer has set its FY 2025 guidance at 3.000-3.150 EPS.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.72 annualized dividend and a yield of 7.0%. Pfizer’s dividend payout ratio (DPR) is currently 91.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PFE shares. Wall Street Zen downgraded Pfizer from a “buy” rating to a “hold” rating in a research report on Sunday, September 28th. Morgan Stanley lowered their price target on Pfizer from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Friday, October 10th. Citigroup raised their price target on Pfizer from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Sanford C. Bernstein restated a “market perform” rating and set a $30.00 price target on shares of Pfizer in a research report on Friday, October 31st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Pfizer in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $28.18.

Hedge Funds Weigh In On Pfizer

Several hedge funds have recently made changes to their positions in PFE. GKV Capital Management Co. Inc. purchased a new position in shares of Pfizer during the first quarter valued at approximately $27,000. Curio Wealth LLC increased its stake in shares of Pfizer by 36,600.0% during the second quarter. Curio Wealth LLC now owns 1,101 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 1,098 shares during the period. Bayforest Capital Ltd purchased a new position in shares of Pfizer during the first quarter valued at approximately $28,000. Harbor Asset Planning Inc. purchased a new position in shares of Pfizer during the second quarter valued at approximately $29,000. Finally, Grey Fox Wealth Advisors LLC purchased a new position in shares of Pfizer during the third quarter valued at approximately $29,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Up 1.4%

The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $140.09 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 0.81 and a beta of 0.54. The company has a 50-day moving average of $24.75 and a two-hundred day moving average of $24.33.

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.