Pfizer (NYSE:PFE) Stock Price Up 3.8%

Pfizer Inc. (NYSE:PFE) shares rose 3.8% during mid-day trading on Wednesday . The stock traded as high as $26.97 and last traded at $26.60. Approximately 32,906,127 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 41,806,535 shares. The stock had previously closed at $25.62.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PFE. Argus downgraded Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Monday, April 15th. Guggenheim assumed coverage on Pfizer in a research report on Friday, February 23rd. They issued a “buy” rating and a $36.00 price objective for the company. Finally, TD Cowen cut Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price objective for the company. in a research report on Thursday, January 4th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $36.33.

Pfizer Price Performance

The stock has a 50 day simple moving average of $26.88 and a two-hundred day simple moving average of $28.26. The company has a market cap of $154.25 billion, a price-to-earnings ratio of 75.67, a price-to-earnings-growth ratio of 1.16 and a beta of 0.61. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.29. The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.37 billion. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. The firm’s revenue for the quarter was down 41.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 earnings per share. On average, equities research analysts predict that Pfizer Inc. will post 2.24 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 6.17%. The ex-dividend date is Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is presently 466.67%.

Hedge Funds Weigh In On Pfizer

Large investors have recently modified their holdings of the business. Arcadia Investment Management Corp MI boosted its holdings in Pfizer by 9.5% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 11,545 shares of the biopharmaceutical company’s stock valued at $383,000 after acquiring an additional 1,000 shares during the period. Innova Wealth Partners purchased a new position in Pfizer during the 3rd quarter valued at about $208,000. Busey Trust CO boosted its holdings in Pfizer by 1.1% during the 3rd quarter. Busey Trust CO now owns 668,948 shares of the biopharmaceutical company’s stock valued at $22,189,000 after acquiring an additional 7,527 shares during the period. Toews Corp ADV purchased a new position in Pfizer during the 3rd quarter valued at about $813,000. Finally, Accurate Wealth Management LLC boosted its holdings in Pfizer by 7.5% during the 3rd quarter. Accurate Wealth Management LLC now owns 35,396 shares of the biopharmaceutical company’s stock valued at $1,159,000 after acquiring an additional 2,467 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

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.