Pfizer (NYSE:PFE) Shares Down 0.3%

Pfizer Inc. (NYSE:PFE)’s share price fell 0.3% during trading on Wednesday . The stock traded as low as $27.74 and last traded at $27.74. 4,287,380 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 40,349,746 shares. The stock had previously closed at $27.83.

Analyst Upgrades and Downgrades

PFE has been the topic of a number of recent research reports. Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Wednesday, June 26th. Morgan Stanley upped their target price on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 target price (up previously from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $35.54.

Pfizer Stock Down 0.5 %

The firm has a fifty day simple moving average of $27.99 and a 200-day simple moving average of $27.71. 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 company has a market capitalization of $156.96 billion, a P/E ratio of -461.59, a P/E/G ratio of 1.09 and a beta of 0.69.

Pfizer (NYSE:PFE) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The firm had revenue of $14.88 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was down 19.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 EPS. On average, equities research analysts expect that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 6.06%. The ex-dividend date of this dividend is Thursday, July 25th. Pfizer’s payout ratio is -2,799.53%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised 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 purchasing an additional 11,099,024 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Pfizer by 8.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock worth $2,985,783,000 after buying an additional 8,473,686 shares during the period. Morgan Stanley increased its stake in shares of Pfizer by 0.4% during the third quarter. Morgan Stanley now owns 84,927,802 shares of the biopharmaceutical company’s stock worth $2,817,055,000 after purchasing an additional 348,628 shares during the period. Norges Bank acquired a new position in Pfizer in the 4th quarter valued at $2,129,927,000. Finally, Massachusetts Financial Services Co. MA increased its position in Pfizer by 13.8% during 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. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Company Profile

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.