Pfizer (NYSE:PFE) Shares Up 0.3%

Shares of Pfizer Inc. (NYSE:PFE) rose 0.3% during trading on Wednesday . The stock traded as high as $30.14 and last traded at $29.93. Approximately 6,192,395 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 37,819,781 shares. The stock had previously closed at $29.83.

Analyst Upgrades and Downgrades

PFE has been the topic of several research analyst reports. UBS Group boosted their target price on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Monday. Barclays boosted their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and upped their price target for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Price Performance

The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The firm has a market cap of $168.13 billion, a P/E ratio of -494.42, a PEG ratio of 1.02 and a beta of 0.68. The stock’s 50-day simple moving average is $29.35 and its two-hundred day simple moving average is $28.20.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter in the previous year, the business posted $0.67 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date was Friday, July 26th. Pfizer’s payout ratio is presently -2,799.53%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Olistico Wealth LLC bought a new position in shares of Pfizer in the second quarter worth about $25,000. MFA Wealth Advisors LLC bought a new position in Pfizer during the 2nd quarter worth about $29,000. Quarry LP bought a new position in Pfizer during the 2nd quarter worth about $31,000. Creekmur Asset Management LLC bought a new position in Pfizer during the 4th quarter worth about $32,000. Finally, Trivant Custom Portfolio Group LLC grew its holdings in Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 600 shares in the last quarter. 68.36% of the stock is currently owned by 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.