Pfizer (NYSE:PFE) Shares Up 0.8%

Pfizer Inc. (NYSE:PFE)’s share price 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 mid-day trading, a decline of 80% from the average daily volume of 43,185,332 shares. The stock had previously closed at $27.77.

Analyst Upgrades and Downgrades

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

Pfizer Stock Down 0.2 %

The stock’s 50 day simple moving average is $26.94 and its two-hundred day simple moving average is $28.12. The firm has a market cap of $159.23 billion, a P/E ratio of -469.84, a P/E/G ratio of 1.17 and a beta of 0.63. 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 posted its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $14.88 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter last year, the company earned $1.23 EPS. The firm’s revenue for the quarter was down 19.5% on a year-over-year basis. As a group, research analysts forecast that Pfizer Inc. will post 2.39 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.68 dividend on an annualized basis and a yield of 5.97%. Pfizer’s dividend payout ratio is currently -2,799.53%.

Institutional Investors Weigh In On Pfizer

Institutional investors have recently made changes to their positions in the company. Lafayette Investments Inc. boosted its position in Pfizer by 2.2% in the third quarter. Lafayette Investments Inc. now owns 17,470 shares of the biopharmaceutical company’s stock worth $579,000 after purchasing an additional 368 shares during the last quarter. First Horizon Advisors Inc. raised its position in Pfizer by 5.8% in the third quarter. First Horizon Advisors Inc. now owns 492,461 shares of the biopharmaceutical company’s stock worth $16,335,000 after acquiring an additional 27,071 shares during the period. Portside Wealth Group LLC boosted its stake in shares of Pfizer by 17.2% during the 3rd quarter. Portside Wealth Group LLC now owns 66,188 shares of the biopharmaceutical company’s stock worth $2,196,000 after acquiring an additional 9,707 shares during the last quarter. Northwest Bancshares Inc. raised its holdings in Pfizer by 1.9% in the 3rd quarter. Northwest Bancshares Inc. now owns 49,051 shares of the biopharmaceutical company’s stock worth $1,627,000 after purchasing an additional 893 shares during the period. Finally, Cable Hill Partners LLC lifted its position in Pfizer by 10.6% during the third quarter. Cable Hill Partners LLC now owns 15,439 shares of the biopharmaceutical company’s stock valued at $512,000 after purchasing an additional 1,478 shares in the last quarter. Hedge funds and other institutional investors 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.