Pfizer (NYSE:PFE) Trading Down 1.8%

Pfizer Inc. (NYSE:PFE) traded down 1.8% during mid-day trading on Wednesday . The stock traded as low as $30.47 and last traded at $30.83. 8,828,677 shares were traded during trading, a decline of 78% from the average session volume of 39,873,996 shares. The stock had previously closed at $31.39.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PFE shares. Morgan Stanley raised their price objective on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. UBS Group boosted their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday. Barclays upped their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday. BMO Capital Markets restated an “outperform” rating and set a $36.00 target price (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $34.58.

Pfizer Stock Performance

The firm has a market capitalization of $173.06 billion, a P/E ratio of -509.00, a P/E/G ratio of 1.20 and a beta of 0.69. The stock has a fifty day moving average of $28.64 and a 200-day moving average of $27.79. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The company had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. During the same period last year, the company earned $0.67 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, research analysts anticipate that Pfizer Inc. will post 2.38 EPS for the current year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors 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 5.50%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s dividend payout ratio is currently -2,800.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Clifford Swan Investment Counsel LLC boosted its stake in shares of Pfizer by 4.7% during 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 acquired a new position in shares of Pfizer in the fourth quarter valued at $255,000. Cantor Fitzgerald Investment Advisors L.P. bought a new position in shares of Pfizer in the fourth quarter valued at about $16,166,000. KLCM Advisors Inc. lifted its stake in shares of Pfizer by 75.0% during the 4th quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock worth $5,004,000 after buying an additional 74,487 shares during the last quarter. Finally, First Heartland Consultants Inc. grew its stake in Pfizer by 43.3% in the 4th quarter. First Heartland Consultants Inc. now owns 13,013 shares of the biopharmaceutical company’s stock valued at $375,000 after buying an additional 3,933 shares during 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.