Pfizer (NYSE:PFE) Stock Price Up 0.8%

Pfizer Inc. (NYSE:PFE)’s stock price traded up 0.8% during trading on Monday . The company traded as high as $28.26 and last traded at $28.02. 11,031,535 shares changed hands during trading, a decline of 74% from the average session volume of 42,765,719 shares. The stock had previously closed at $27.81.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Morgan Stanley lifted their target price on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday. BMO Capital Markets restated an “outperform” rating and set a $36.00 target price (up previously from $33.00) on shares of Pfizer in a research report on Thursday. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Guggenheim initiated coverage on Pfizer in a report on Friday, February 23rd. They issued a “buy” rating and a $36.00 price target for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Monday, April 15th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Pfizer currently has a consensus rating of “Hold” and a consensus target price of $36.00.

Pfizer Stock Performance

The business has a 50-day moving average price of $26.88 and a 200-day moving average price of $28.16. The firm has a market capitalization of $159.51 billion, a price-to-earnings ratio of -466.92, a P/E/G ratio of 1.17 and a beta of 0.63. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69.

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 the consensus estimate of $0.56 by $0.26. Pfizer had a positive return on equity of 8.58% and a negative net margin of 0.56%. The firm had revenue of $14.88 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the prior year, the firm earned $1.23 EPS. The firm’s revenue was down 19.5% on a year-over-year basis. As a group, sell-side analysts forecast that Pfizer Inc. will post 2.39 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.96%. The ex-dividend date is Thursday, May 9th. Pfizer’s payout ratio is -2,799.53%.

Institutional Investors Weigh In On Pfizer

Hedge funds have recently added to or reduced their stakes in the business. Clifford Swan Investment Counsel LLC boosted its holdings in Pfizer by 4.7% in the fourth quarter. Clifford Swan Investment Counsel LLC now owns 417,070 shares of the biopharmaceutical company’s stock valued at $12,007,000 after purchasing an additional 18,611 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in Pfizer by 40.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 4,739,672 shares of the biopharmaceutical company’s stock valued at $157,215,000 after purchasing an additional 1,365,295 shares during the last quarter. LifePlan Financial LLC purchased a new stake in Pfizer in the fourth quarter valued at $255,000. ETF Store Inc. boosted its holdings in Pfizer by 12.0% in the third quarter. ETF Store Inc. now owns 6,803 shares of the biopharmaceutical company’s stock valued at $214,000 after purchasing an additional 727 shares during the last quarter. Finally, KLCM Advisors Inc. boosted its holdings in Pfizer by 75.0% in the fourth quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock valued at $5,004,000 after purchasing an additional 74,487 shares during the last quarter. 68.36% of the stock is owned by hedge funds and other 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.