Pfizer (NYSE:PFE) Shares Down 0.8%

Pfizer Inc. (NYSE:PFE) traded down 0.8% during mid-day trading on Tuesday . The stock traded as low as $27.88 and last traded at $28.00. 4,102,467 shares were traded during trading, a decline of 90% from the average session volume of 40,500,141 shares. The stock had previously closed at $28.22.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. BMO Capital Markets reaffirmed 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. Argus downgraded Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Wednesday, June 26th. Finally, Morgan Stanley boosted their price objective on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $35.54.

Pfizer Price Performance

The company has a market capitalization of $156.79 billion, a PE ratio of -461.09, a P/E/G ratio of 1.09 and a beta of 0.69. The firm has a fifty day simple moving average of $27.96 and a 200 day simple moving average of $27.71. 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 released its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.26. The firm had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The firm’s quarterly revenue was down 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 earnings per share. Equities analysts anticipate that Pfizer Inc. will post 2.38 EPS for the current year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, July 25th. This represents a $1.68 annualized dividend and a yield of 6.07%. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Institutional Investors Weigh In On Pfizer

Hedge funds have recently made changes to their positions in the stock. GoalVest Advisory LLC boosted its holdings in shares of Pfizer by 304.9% in the 4th quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 811 shares in the last quarter. Creekmur Asset Management LLC acquired a new position in shares of Pfizer during the fourth quarter worth $32,000. Trivant Custom Portfolio Group LLC lifted its holdings in shares of Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 600 shares during the last quarter. VisionPoint Advisory Group LLC grew its stake in Pfizer by 52,350.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 1,047 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new position in Pfizer during the 4th quarter valued at about $36,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

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.