Pfizer (NYSE:PFE) Shares Down 1.1%

Pfizer Inc. (NYSE:PFE)’s stock price traded down 1.1% during mid-day trading on Monday . The stock traded as low as $27.13 and last traded at $27.24. 5,645,850 shares were traded during mid-day trading, a decline of 86% from the average session volume of 41,202,016 shares. The stock had previously closed at $27.53.

Wall Street Analyst Weigh In

Several brokerages recently commented on PFE. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Monday. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 price objective (up previously from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Morgan Stanley raised their price target on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Finally, Guggenheim assumed coverage on shares of Pfizer in a report on Friday, February 23rd. They set a “buy” rating and a $36.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $35.86.

Pfizer Trading Down 2.1 %

The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05. The firm has a market capitalization of $152.71 billion, a price-to-earnings ratio of -448.93, a P/E/G ratio of 1.08 and a beta of 0.70. The business has a fifty day moving average price of $27.56 and a 200 day moving average price of $27.76.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.56 by $0.26. The company had revenue of $14.88 billion during the quarter, compared to analyst estimates 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 revenue was down 19.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.23 earnings per share. As a group, equities analysts forecast that Pfizer Inc. will post 2.38 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 10th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.68 annualized dividend and a yield of 6.23%. Pfizer’s dividend payout ratio is currently -2,799.53%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Pfizer during the fourth quarter worth $2,129,927,000. Wellington Management Group LLP lifted its stake in shares of Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after acquiring an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Pfizer by 8.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock worth $2,985,783,000 after purchasing an additional 8,473,686 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Pfizer by 13.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after purchasing an additional 8,298,920 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of Pfizer during the 1st quarter valued at approximately $172,902,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

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.