Pfizer (NYSE:PFE) Stock Price Up 0.9%

Pfizer Inc. (NYSE:PFE) shares rose 0.9% during mid-day trading on Monday . The stock traded as high as $29.83 and last traded at $29.54. Approximately 4,433,478 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 37,923,637 shares. The stock had previously closed at $29.27.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PFE shares. Wells Fargo & Company boosted their target price on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Monday. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, UBS Group raised their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Price Performance

The company has a market capitalization of $169.49 billion, a PE ratio of -496.00, a price-to-earnings-growth ratio of 1.04 and a beta of 0.68. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The firm’s 50 day simple moving average is $29.21 and its 200 day simple moving average is $28.13.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to the consensus estimate 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 revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. As a group, research analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date was Friday, July 26th. Pfizer’s payout ratio is currently -2,800.00%.

Institutional Investors Weigh In On Pfizer

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Olistico Wealth LLC purchased a new position in Pfizer during the 2nd quarter worth $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Pfizer during the second quarter valued at $29,000. Quarry LP bought a new stake in shares of Pfizer in the second quarter valued at about $31,000. Creekmur Asset Management LLC purchased a new stake in Pfizer in the fourth quarter worth about $32,000. Finally, Trivant Custom Portfolio Group LLC grew its holdings in Pfizer by 100.0% during the 1st 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. Institutional investors own 68.36% of the company’s stock.

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.