Pfizer (NYSE:PFE) Shares Up 1%

Shares of Pfizer Inc. (NYSE:PFE) shot up 1% during trading on Friday . The stock traded as high as $29.14 and last traded at $28.96. 7,993,426 shares were traded during mid-day trading, a decline of 80% from the average session volume of 39,845,512 shares. The stock had previously closed at $28.66.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PFE. Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $36.00 price objective (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Morgan Stanley upped their price objective on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Barclays upped their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Pfizer presently has an average rating of “Hold” and an average target price of $35.69.

Pfizer Stock Up 0.9 %

The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66. The stock’s 50-day simple moving average is $28.25 and its two-hundred day simple moving average is $27.72.

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 analysts’ consensus estimates of $0.56 by $0.26. The company had revenue of $14.88 billion during 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 firm’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 earnings per share. As a group, equities research analysts predict that Pfizer Inc. will post 2.39 EPS for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

Institutional Investors Weigh In On Pfizer

A number of hedge funds have recently modified their holdings of PFE. Olistico Wealth LLC acquired a new stake in shares of Pfizer in the second quarter valued at about $25,000. Creekmur Asset Management LLC acquired a new stake in Pfizer during the fourth quarter worth about $32,000. Trivant Custom Portfolio Group LLC increased its position in Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in Pfizer during the fourth quarter worth about $36,000. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in Pfizer during the fourth quarter worth about $37,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.