Pfizer (NYSE:PFE) Stock Price Down 0.1%

Pfizer Inc. (NYSE:PFE)’s share price was down 0.1% during mid-day trading on Monday . The stock traded as low as $29.18 and last traded at $29.40. Approximately 7,715,341 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 37,785,492 shares. The stock had previously closed at $29.42.

Wall Street Analysts Forecast Growth

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 report on Wednesday, August 7th. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Wells Fargo & Company increased their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Barclays boosted their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Monday, September 16th. Eight 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Stock Performance

The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The company’s 50-day moving average price is $29.36 and its two-hundred day moving average price is $28.24. The company has a market cap of $166.09 billion, a P/E ratio of -489.92, a price-to-earnings-growth ratio of 1.05 and a beta of 0.68.

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

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 dividend on an annualized basis and a yield of 5.73%. Pfizer’s dividend payout ratio is currently -2,799.53%.

Institutional Trading of Pfizer

Hedge funds have recently bought and sold shares of the company. Olistico Wealth LLC acquired a new stake in Pfizer during the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new stake in Pfizer in the 2nd quarter worth about $29,000. Quarry LP acquired a new stake in Pfizer during the 2nd quarter worth about $31,000. Creekmur Asset Management LLC purchased a new position in Pfizer during the 4th quarter valued at about $32,000. Finally, Trivant Custom Portfolio Group LLC increased 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 valued at $33,000 after purchasing an additional 600 shares during the period. 68.36% of the stock is 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.