Pfizer, Inc. (PFE) Shares Tick Up after Upgrade at Zacks Investment Research

Pfizer, Inc. (NYSE: PFE) shares rose in value on Wednesday January 25 on slower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.

Meanwhile, the Dow Jones Industrial Average on Wednesday crossed the 20,000 level for the first time, while the S&P 500 and Nasdaq Composite also traded in record territory shortly after the market opened

The Dow Jones Industrial Average DJIA, +0.60% advanced 100 points, or 0.5%, to 20,012,
The S&P 500 index SPX, +0.55% gained 10 points, or 0.5%, to 2,289, with eight of the main 11 sectors trading higher.

The Nasdaq Composite index COMP, +0.66% was 30 points, or 0.6%, higher at 5,630.

All three main indexes set intraday records shortly after the opening bell.

Analysts at Zacks Investment Research upgraded shares of Pfizer, Inc. (NYSE: PFE) from Sell to Hold today. The company currently has a rating of Hold on the stock. A number of other analysts have issued reports on the company recently, and the company has earned a consensus one-year price target of $37.52, higher than the opening price of $31.36. Pfizer, Inc. stock has a 52-week high of $37.39. Share prices often move to the upside on recommendations and new price targets of professional analysts.

Shares of Pfizer, Inc. (NYSE: PFE) opened at $31.36 yesterday trading between $31.10 and $31.44, and last traded at $31.16, which represents a jump of $0.01 from the previous closing price.

Pfizer, Inc. (NYSE: PFE) now has a market cap of 189.07B.

Pfizer, Inc. (NYSE: PFE) Average Daily Trading Volume

3,805,752 shares traded hands yesterday, 9 percent lower than the norm, out of a total float 6,065,138,000. lower than normal. Look for trading volume to pick up in the coming days as investors often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.

While increased trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These instituitional investors have substantial teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you are researching.

Pfizer, Inc. (NYSE: PFE) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.

With that in mind, Pfizer, Inc. (NYSE: PFE) now has a 50-day MA of $32.43 and 200-day MA of $33.52. It has traded in a 52-week range between $28.25 – 37.3900 and today’s last price is 16.67%% lower than the 52 week high of $37.39.

Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors look for companies that have been successful at growing their earnings by at least 25% over a 3 year period.

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