Pfizer (NYSE:PFE) Stock Price Up 0.8%

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

Wall Street Analyst Weigh In

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

Pfizer Stock Up 1.8 %

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

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The company had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a positive return on equity of 8.58% and a negative net margin of 0.56%. Pfizer’s revenue was down 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 EPS. On average, equities research analysts predict that Pfizer Inc. will post 2.39 EPS for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date is Thursday, May 9th. Pfizer’s dividend payout ratio is currently -2,799.53%.

Institutional Investors Weigh In On Pfizer

Hedge funds have recently modified their holdings of the business. Trifecta Capital Advisors LLC increased its holdings in Pfizer by 3.7% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 9,197 shares of the biopharmaceutical company’s stock worth $305,000 after purchasing an additional 325 shares in the last quarter. Confluence Wealth Services Inc. raised its position in Pfizer by 0.5% in the 3rd quarter. Confluence Wealth Services Inc. now owns 65,053 shares of the biopharmaceutical company’s stock valued at $2,158,000 after buying an additional 342 shares during the last quarter. Carr Financial Group Corp lifted its stake in Pfizer by 3.3% in the 3rd quarter. Carr Financial Group Corp now owns 11,012 shares of the biopharmaceutical company’s stock valued at $344,000 after acquiring an additional 355 shares in the last quarter. Advisor OS LLC boosted its position in Pfizer by 1.0% during the 4th quarter. Advisor OS LLC now owns 35,202 shares of the biopharmaceutical company’s stock worth $1,013,000 after acquiring an additional 365 shares during the last quarter. Finally, Lafayette Investments Inc. grew its stake in shares of Pfizer by 2.2% during the 3rd quarter. Lafayette Investments Inc. now owns 17,470 shares of the biopharmaceutical company’s stock worth $579,000 after acquiring an additional 368 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

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.