Pfizer (NYSE:PFE) Shares Up 1.5%

Pfizer Inc. (NYSE:PFE) shares rose 1.5% during trading on Thursday . The company traded as high as $30.93 and last traded at $30.44. Approximately 13,771,797 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 39,540,965 shares. The stock had previously closed at $29.98.

Analysts Set New Price Targets

Several analysts recently weighed in on PFE shares. BMO Capital Markets reissued 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. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday, July 10th. Barclays raised their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 10th. Finally, Morgan Stanley boosted their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $34.50.

Pfizer Price Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05. The stock has a 50 day moving average of $28.47 and a two-hundred day moving average of $27.75. The stock has a market cap of $172.38 billion, a PE ratio of -507.25, a PEG ratio of 1.15 and a beta of 0.69.

Pfizer (NYSE:PFE) last released its quarterly earnings data 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 analyst estimates of $13.87 billion. During the same quarter in the previous year, the business earned $1.23 EPS. Pfizer’s quarterly revenue was down 19.5% compared to the same quarter last year. Equities analysts anticipate that Pfizer Inc. will post 2.39 EPS for the current year.

Pfizer Announces Dividend

The company also recently declared 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 5.52%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s dividend payout ratio is -2,799.53%.

Hedge Funds Weigh In On Pfizer

A number of institutional investors have recently modified their holdings of PFE. Ironvine Capital Partners LLC increased its position in Pfizer by 2.1% during the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock worth $470,000 after acquiring an additional 353 shares during the period. Secure Asset Management LLC increased its position in Pfizer by 0.6% during the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after acquiring an additional 353 shares during the period. Patrick M Sweeney & Associates Inc. increased its position in Pfizer by 0.8% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock worth $1,180,000 after acquiring an additional 355 shares during the period. Continuum Advisory LLC increased its position in Pfizer by 1.5% during the second quarter. Continuum Advisory LLC now owns 25,185 shares of the biopharmaceutical company’s stock worth $705,000 after acquiring an additional 360 shares during the period. Finally, Advisor OS LLC increased its position in Pfizer by 1.0% during the fourth quarter. Advisor OS LLC now owns 35,202 shares of the biopharmaceutical company’s stock worth $1,013,000 after acquiring an additional 365 shares during the period. 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.