Pfizer (NYSE:PFE) Trading 0.5% Higher

Pfizer Inc. (NYSE:PFE) shares traded up 0.5% during mid-day trading on Friday . The company traded as high as $27.93 and last traded at $27.83. 4,288,761 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 40,159,172 shares. The stock had previously closed at $27.70.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PFE shares. Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday, June 26th. BMO Capital Markets reiterated 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. Finally, Morgan Stanley lifted 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. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Pfizer presently has an average rating of “Hold” and an average target price of $35.54.

Pfizer Stock Performance

The stock has a market cap of $158.21 billion, a PE ratio of -463.76, a PEG ratio of 1.09 and a beta of 0.69. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78. The firm has a 50 day moving average of $28.04 and a two-hundred day moving average of $27.71.

Pfizer (NYSE:PFE) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) 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 8.64%. The business had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the prior year, the business posted $1.23 EPS. The company’s revenue for the quarter was down 19.5% on a year-over-year basis. Research analysts predict that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 6.02%. The ex-dividend date of this dividend is Thursday, July 25th. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

Hedge Funds Weigh In On Pfizer

A number of institutional investors have recently modified their holdings of PFE. Clifford Swan Investment Counsel LLC lifted its stake in shares of Pfizer by 4.7% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 417,070 shares of the biopharmaceutical company’s stock worth $12,007,000 after acquiring an additional 18,611 shares during the period. LifePlan Financial LLC purchased a new position in shares of Pfizer during the 4th quarter worth approximately $255,000. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in shares of Pfizer in the fourth quarter valued at approximately $16,166,000. KLCM Advisors Inc. grew its holdings in Pfizer by 75.0% during the fourth quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock worth $5,004,000 after acquiring an additional 74,487 shares during the period. Finally, Farmers Trust Co. raised its position in Pfizer by 2.0% in the fourth quarter. Farmers Trust Co. now owns 225,881 shares of the biopharmaceutical company’s stock worth $6,503,000 after acquiring an additional 4,410 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

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.