Pfizer Inc. (NYSE:PFE) Sees Large Decline in Short Interest

Pfizer Inc. (NYSE:PFE) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 73,570,000 shares, a drop of 19.8% from the January 15th total of 91,780,000 shares. Based on an average daily volume of 43,750,000 shares, the short-interest ratio is currently 1.7 days.

Insider Activity

In related news, Director Ronald E. Blaylock acquired 19,457 shares of the stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $25.65 per share, with a total value of $499,072.05. Following the purchase, the director now directly owns 27,707 shares of the company’s stock, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning lifted its position in Pfizer by 17.1% during the 3rd quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock worth $52,692,000 after acquiring an additional 266,167 shares during the period. Swedbank AB lifted its holdings in shares of Pfizer by 0.7% in the 3rd quarter. Swedbank AB now owns 5,745,831 shares of the biopharmaceutical company’s stock valued at $166,284,000 after buying an additional 37,636 shares during the period. Cornerstone Wealth Management LLC lifted its holdings in shares of Pfizer by 8.1% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 77,912 shares of the biopharmaceutical company’s stock valued at $2,255,000 after buying an additional 5,854 shares during the period. nVerses Capital LLC lifted its holdings in shares of Pfizer by 154.1% in the 3rd quarter. nVerses Capital LLC now owns 15,500 shares of the biopharmaceutical company’s stock valued at $449,000 after buying an additional 9,400 shares during the period. Finally, Good Life Advisors LLC lifted its holdings in shares of Pfizer by 7.4% in the 3rd quarter. Good Life Advisors LLC now owns 56,199 shares of the biopharmaceutical company’s stock valued at $1,626,000 after buying an additional 3,869 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Trading Down 0.6 %

Shares of NYSE:PFE opened at $25.50 on Monday. Pfizer has a 12-month low of $24.48 and a 12-month high of $31.54. The business’s fifty day simple moving average is $26.28 and its 200-day simple moving average is $27.56. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $144.48 billion, a PE ratio of 18.08, a P/E/G ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.15. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. During the same period in the previous year, the business earned $0.10 EPS. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. As a group, equities research analysts predict that Pfizer will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 6.75%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s payout ratio is 121.99%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PFE shares. Evercore ISI raised Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Bank of America reissued a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. Wolfe Research started coverage on Pfizer in a research note on Friday, November 15th. They set an “underperform” rating and a $25.00 price target for the company. Finally, Guggenheim reissued a “buy” rating and set a $33.00 price target on shares of Pfizer in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.92.

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.