Pfizer (NYSE:PFE) Trading 0.8% Higher

Pfizer Inc. (NYSE:PFE)’s share price traded up 0.8% during trading on Friday . The stock traded as high as $28.11 and last traded at $28.03. 4,740,508 shares were traded during trading, a decline of 88% from the average session volume of 40,679,500 shares. The stock had previously closed at $27.80.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Argus cut Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Morgan Stanley increased their target price on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. BMO Capital Markets restated an “outperform” rating and set a $36.00 target price (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $35.86.

Pfizer Trading Up 1.0 %

The stock has a fifty day moving average of $27.81 and a 200 day moving average of $27.69. The company has a market capitalization of $159.17 billion, a P/E ratio of -467.09, a PEG ratio of 1.08 and a beta of 0.70. 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 posted its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The business had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The business’s quarterly revenue was down 19.5% on a year-over-year basis. During the same period last year, the firm earned $1.23 earnings per share. As a group, equities research analysts anticipate that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.98%. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

Institutional Investors Weigh In On Pfizer

Several large investors have recently made changes to their positions in PFE. GoalVest Advisory LLC grew its position in Pfizer by 304.9% in the fourth quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 811 shares in the last quarter. Creekmur Asset Management LLC purchased a new position in Pfizer in the fourth quarter worth about $32,000. Trivant Custom Portfolio Group LLC grew its position in Pfizer by 100.0% in the first 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 in the last quarter. VisionPoint Advisory Group LLC grew its position in Pfizer by 52,350.0% in the third quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 1,047 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new position in Pfizer in the fourth quarter worth about $36,000. 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.