Pfizer (NYSE:PFE) Trading 1.5% Higher

Pfizer Inc. (NYSE:PFE)’s stock price traded up 1.5% on Monday . The stock traded as high as $28.63 and last traded at $28.41. 7,484,103 shares traded hands during trading, a decline of 82% from the average session volume of 40,641,523 shares. The stock had previously closed at $27.98.

Analyst Ratings Changes

A number of brokerages have commented on PFE. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Wednesday, June 26th. Morgan Stanley upped their price target on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 price objective (up previously from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Finally, Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Pfizer has an average rating of “Hold” and an average target price of $35.54.

Pfizer Stock Performance

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 stock has a market cap of $159.97 billion, a price-to-earnings ratio of -470.42, a P/E/G ratio of 1.10 and a beta of 0.69. The stock has a fifty day simple moving average of $27.90 and a two-hundred day simple moving average of $27.69.

Pfizer (NYSE:PFE) last released its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The firm 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 revenue for the quarter was down 19.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.23 earnings per share. Analysts expect that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be issued a dividend of $0.42 per share. The ex-dividend date is Thursday, July 25th. This represents a $1.68 annualized dividend and a dividend yield of 5.95%. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Institutional Trading of Pfizer

Hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in Pfizer in the 4th quarter valued at approximately $2,129,927,000. Wellington Management Group LLP increased its position in Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after purchasing an additional 11,099,024 shares during the period. Charles Schwab Investment Management Inc. raised 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 boosted its stake 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 during the last quarter. Finally, Swedbank AB acquired a new stake in shares of Pfizer during the first quarter worth $172,902,000. 68.36% of the stock is owned by institutional investors and hedge funds.

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.