Pfizer (NYSE:PFE) Stock Price Down 0.8%

Pfizer Inc. (NYSE:PFE)’s stock price fell 0.8% during trading on Wednesday . The stock traded as low as $27.71 and last traded at $27.78. 3,784,137 shares traded hands during trading, a decline of 91% from the average session volume of 40,850,707 shares. The stock had previously closed at $27.99.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday. Morgan Stanley lifted their price target on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 price target (up previously from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $35.86.

Pfizer Trading Up 1.4 %

The business’s 50 day moving average is $27.81 and its two-hundred day moving average is $27.69. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $157.53 billion, a P/E ratio of -463.26, a PEG ratio of 1.08 and a beta of 0.70.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share 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 analysts’ expectations of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The company’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 EPS. Analysts expect that Pfizer Inc. will post 2.38 EPS for the current year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.04%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s dividend payout ratio is currently -2,799.53%.

Institutional Investors Weigh In On Pfizer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFE. Teza Capital Management LLC bought a new stake in Pfizer in the third quarter worth approximately $347,000. Caxton Associates LP increased its position in Pfizer by 7.2% during the third quarter. Caxton Associates LP now owns 45,018 shares of the biopharmaceutical company’s stock worth $1,493,000 after buying an additional 3,043 shares during the last quarter. United Services Automobile Association raised its holdings in Pfizer by 1.5% during the third quarter. United Services Automobile Association now owns 1,510,368 shares of the biopharmaceutical company’s stock valued at $50,099,000 after buying an additional 22,731 shares in the last quarter. Bluefin Capital Management LLC acquired a new stake in shares of Pfizer in the third quarter worth about $358,000. Finally, White Knight Strategic Wealth Advisors LLC increased its holdings in shares of Pfizer by 3.0% during the 3rd quarter. White Knight Strategic Wealth Advisors LLC now owns 20,528 shares of the biopharmaceutical company’s stock valued at $681,000 after acquiring an additional 604 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.