Pfizer (NYSE:PFE) Shares Down 0.2%

Pfizer Inc. (NYSE:PFE) fell 0.2% during mid-day trading on Friday . The stock traded as low as $29.02 and last traded at $29.10. 4,201,015 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 38,023,656 shares. The stock had previously closed at $29.16.

Analyst Ratings Changes

A number of equities analysts have issued reports on PFE shares. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Barclays boosted their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group increased their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Monday. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Trading Down 0.1 %

The stock’s fifty day moving average price is $29.19 and its 200 day moving average price is $28.10. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The stock has a market capitalization of $165.13 billion, a P/E ratio of -484.92, a PEG ratio of 1.04 and a beta of 0.68.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. The business had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 earnings per share. Research analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.77%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s payout ratio is -2,799.53%.

Institutional Investors Weigh In On Pfizer

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in Pfizer during the 4th quarter worth about $2,129,927,000. Wellington Management Group LLP increased its holdings in shares of Pfizer by 4.9% in 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 acquiring an additional 11,099,024 shares during the period. Marshall Wace LLP raised its holdings in shares of Pfizer by 279.3% in the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after buying an additional 8,378,173 shares during the last quarter. Swedbank AB acquired a new stake in Pfizer during the 1st quarter worth approximately $172,902,000. Finally, Pzena Investment Management LLC lifted its holdings in shares of Pfizer by 181.6% during the first quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after purchasing an additional 4,947,000 shares during the period. Institutional investors and hedge funds 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.