Pfizer (NYSE:PFE) Trading Up 0.8%

Pfizer Inc. (NYSE:PFE) traded up 0.8% during mid-day trading on Friday . The stock traded as high as $28.11 and last traded at $28.03. 4,740,508 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 40,679,500 shares. The stock had previously closed at $27.80.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Morgan Stanley increased their price target on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 price objective (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.54.

Pfizer Stock Up 0.6 %

The firm’s 50-day moving average is $27.90 and its 200 day moving average is $27.68. The firm has a market capitalization of $158.55 billion, a P/E ratio of -466.26, a PEG ratio of 1.09 and a beta of 0.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05.

Pfizer (NYSE:PFE) last issued 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. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The company 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 company’s quarterly revenue was down 19.5% compared to the same quarter last year. As a group, equities research analysts predict that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date of this dividend is Thursday, July 25th. Pfizer’s dividend payout ratio is presently -2,799.53%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bright Futures Wealth Management LLC. bought a new stake in Pfizer during the first quarter worth about $321,000. Old Port Advisors raised its stake in shares of Pfizer by 10.5% during the 1st quarter. Old Port Advisors now owns 90,379 shares of the biopharmaceutical company’s stock worth $2,508,000 after purchasing an additional 8,603 shares in the last quarter. Cape Investment Advisory Inc. boosted its holdings in shares of Pfizer by 43.2% in the 1st quarter. Cape Investment Advisory Inc. now owns 12,318 shares of the biopharmaceutical company’s stock valued at $342,000 after buying an additional 3,715 shares during the last quarter. Keynote Financial Services LLC bought a new position in shares of Pfizer in the first quarter valued at $1,765,000. Finally, IMS Capital Management increased its holdings in Pfizer by 3.3% during the first quarter. IMS Capital Management now owns 102,909 shares of the biopharmaceutical company’s stock worth $2,856,000 after buying an additional 3,325 shares during the last quarter. 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.