Pfizer (NYSE:PFE) Trading 0.2% Higher

Pfizer Inc. (NYSE:PFE)’s share price shot up 0.2% during mid-day trading on Thursday . The stock traded as high as $30.02 and last traded at $29.81. 4,312,573 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 37,747,949 shares. The stock had previously closed at $29.75.

Analyst Upgrades and Downgrades

PFE has been the topic of several recent research reports. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Barclays lifted their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Monday, September 16th. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, UBS Group upped their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Performance

The stock has a market capitalization of $166.71 billion, a price-to-earnings ratio of -490.25, a price-to-earnings-growth ratio of 1.05 and a beta of 0.68. The company has a 50 day simple moving average of $29.36 and a 200-day simple moving average of $28.22. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. Pfizer’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.67 EPS. As a group, equities research analysts expect that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.71%. Pfizer’s dividend payout ratio is presently -2,799.53%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Olistico Wealth LLC bought a new position in shares of Pfizer in the 2nd quarter worth $25,000. MFA Wealth Advisors LLC bought a new position in shares of Pfizer in the second quarter valued at $29,000. Quarry LP acquired a new position in shares of Pfizer during the second quarter valued at about $31,000. Creekmur Asset Management LLC bought a new stake in shares of Pfizer during the fourth quarter worth about $32,000. Finally, Trivant Custom Portfolio Group LLC raised its holdings in shares of Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 600 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.