Pfizer (NYSE:PFE) Trading Up 0.1% – What’s Next?

Pfizer Inc. (NYSE:PFE) shares traded up 0.1% during trading on Thursday . The stock traded as high as $28.98 and last traded at $28.90. 3,329,748 shares traded hands during trading, a decline of 91% from the average session volume of 36,765,098 shares. The stock had previously closed at $28.86.

Wall Street Analysts Forecast Growth

PFE has been the subject of a number of analyst reports. Citigroup began coverage on shares of Pfizer in a research report on Friday. They issued a “neutral” rating and a $30.00 target price for the company. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Barclays raised their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, Sanford C. Bernstein started coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.58.

Pfizer Stock Down 0.6 %

The company has a market cap of $161.27 billion, a price-to-earnings ratio of -61.87, a P/E/G ratio of 1.01 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The firm has a 50-day moving average price of $29.07 and a 200 day moving average price of $28.49.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same period in the prior year, the firm posted $0.67 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts predict that Pfizer Inc. will post 2.67 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio is currently -365.21%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PFE. Atlas Capital Advisors LLC raised its stake in Pfizer by 54.4% in the first quarter. Atlas Capital Advisors LLC now owns 1,702 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 600 shares in the last quarter. Kathmere Capital Management LLC acquired a new position in shares of Pfizer in the 1st quarter valued at approximately $203,000. Hodges Capital Management Inc. boosted its position in shares of Pfizer by 16.9% during the 1st quarter. Hodges Capital Management Inc. now owns 12,127 shares of the biopharmaceutical company’s stock worth $337,000 after acquiring an additional 1,752 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Pfizer by 16.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 41,275 shares of the biopharmaceutical company’s stock valued at $1,145,000 after acquiring an additional 5,682 shares during the last quarter. Finally, Griffin Asset Management Inc. raised its position in Pfizer by 13.2% during the first quarter. Griffin Asset Management Inc. now owns 67,989 shares of the biopharmaceutical company’s stock valued at $1,887,000 after purchasing an additional 7,943 shares in the last quarter. 68.36% of the stock is owned by 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.