Pfizer (NYSE:PFE) Trading 0.8% Higher

Pfizer Inc. (NYSE:PFE) shares rose 0.8% on Wednesday . The stock traded as high as $28.06 and last traded at $27.99. Approximately 8,508,169 shares were traded during trading, a decline of 80% from the average daily volume of 43,185,332 shares. The stock had previously closed at $27.77.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PFE. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Monday, April 15th. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Morgan Stanley raised their target price on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $36.00 price target (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Finally, Guggenheim started coverage on Pfizer in a research note on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective on the stock. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $36.00.

Pfizer Price Performance

The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. The business’s fifty day moving average is $26.92 and its 200 day moving average is $28.12. The company has a market cap of $160.08 billion, a P/E ratio of -466.42, a PEG ratio of 1.17 and a beta of 0.63.

Pfizer (NYSE:PFE) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.26. Pfizer had a positive return on equity of 8.58% and a negative net margin of 0.56%. The firm had revenue of $14.88 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period in the previous year, the company posted $1.23 earnings per share. The business’s revenue was down 19.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Pfizer Inc. will post 2.39 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.94%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Institutional Trading of Pfizer

Several hedge funds and other institutional investors have recently modified their holdings of the business. Briaud Financial Planning Inc purchased a new position in Pfizer during the 3rd quarter valued at about $30,000. GoalVest Advisory LLC increased its holdings in Pfizer by 304.9% during the 4th quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 811 shares during the period. Creekmur Asset Management LLC purchased a new stake in Pfizer in the 4th quarter worth approximately $32,000. Trivant Custom Portfolio Group LLC increased its holdings in shares of Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the period. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of Pfizer in the third quarter worth $34,000. Institutional investors 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.