Pfizer (NYSE:PFE) Trading Down 0.3%

Pfizer Inc. (NYSE:PFE)’s stock price fell 0.3% during mid-day trading on Friday . The company traded as low as $27.56 and last traded at $27.63. 9,591,704 shares changed hands during trading, a decline of 77% from the average session volume of 42,541,832 shares. The stock had previously closed at $27.70.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. 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 report on Thursday. Morgan Stanley boosted their price objective on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday. Guggenheim began coverage on Pfizer in a research note on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Monday, April 15th. Finally, Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $36.00.

Pfizer Trading Up 0.4 %

The firm has a 50-day moving average price of $26.88 and a 200-day moving average price of $28.21. The stock has a market cap of $157.48 billion, a PE ratio of -463.42, a price-to-earnings-growth ratio of 1.18 and a beta of 0.63. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91.

Pfizer (NYSE:PFE) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.26. The firm had revenue of $14.88 billion for the quarter, compared to the consensus estimate of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. The business’s revenue was down 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.23 earnings per share. As a group, equities analysts anticipate that Pfizer Inc. will post 2.36 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 6.04%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s dividend payout ratio is currently -2,799.53%.

Hedge Funds Weigh In On Pfizer

Hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in Pfizer in the fourth quarter worth approximately $2,129,927,000. Wellington Management Group LLP grew its holdings 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 during the period. Charles Schwab Investment Management Inc. increased its position in Pfizer by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock valued at $3,161,261,000 after acquiring an additional 9,393,992 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Pfizer by 13.8% in the fourth 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 acquiring an additional 8,298,920 shares during the period. Finally, Invesco Ltd. boosted its position in Pfizer by 30.9% in the third quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock worth $797,901,000 after purchasing an additional 5,678,004 shares during the last quarter. Hedge funds and other 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.