Pfizer (NYSE:PFE) Trading Up 0.5%

Shares of Pfizer Inc. (NYSE:PFE) were up 0.5% on Tuesday . The stock traded as high as $28.49 and last traded at $28.29. Approximately 10,166,295 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 42,944,156 shares. The stock had previously closed at $28.16.

Analysts Set New Price Targets

A number of analysts recently commented on PFE shares. Guggenheim started coverage on Pfizer in a research report on Friday, February 23rd. They issued a “buy” rating and a $36.00 target price for the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $36.00 target price (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Monday, April 15th. Finally, Morgan Stanley boosted their target price on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $36.00.

Pfizer Stock Down 1.7 %

The company has a market cap of $156.68 billion, a P/E ratio of -471.42, a P/E/G ratio of 1.17 and a beta of 0.63. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69. The company’s 50-day moving average is $26.90 and its two-hundred day moving average is $28.14.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. The company had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter last year, the firm earned $1.23 earnings per share. The firm’s quarterly revenue was down 19.5% compared to the same quarter last year. As a group, equities analysts predict that Pfizer Inc. will post 2.39 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.07%. The ex-dividend date is Thursday, May 9th. Pfizer’s payout ratio is -2,799.53%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of Pfizer during the fourth quarter valued at approximately $2,129,927,000. Wellington Management Group LLP lifted its position in shares of Pfizer by 4.9% during the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after buying an additional 11,099,024 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in 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 worth $1,972,300,000 after buying an additional 8,298,920 shares during the period. Finally, Invesco Ltd. increased its holdings in Pfizer by 30.9% in the 3rd quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock worth $797,901,000 after buying an additional 5,678,004 shares during the period. 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.