Pfizer (NYSE:PFE) Trading 1.4% Higher

Shares of Pfizer Inc. (NYSE:PFE) were up 1.4% during mid-day trading on Tuesday . The company traded as high as $28.86 and last traded at $28.85. Approximately 6,173,889 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 39,489,109 shares. The stock had previously closed at $28.45.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PFE. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. UBS Group increased their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Wednesday, July 31st. Finally, Barclays boosted their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Price Performance

The company has a market capitalization of $163.51 billion, a PE ratio of -480.84, a price-to-earnings-growth ratio of 0.99 and a beta of 0.69. The company’s fifty day moving average is $28.75 and its 200-day moving average is $27.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The firm had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.67 earnings per share. As a group, analysts predict that Pfizer Inc. will post 2.68 EPS for the current fiscal year.

Pfizer Announces Dividend

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 paid a dividend of $0.42 per share. The ex-dividend date is Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 5.82%. Pfizer’s payout ratio is -2,799.53%.

Institutional Investors Weigh In On Pfizer

A number of hedge funds have recently made changes to their positions in PFE. Wellington Management Group LLP raised its stake in Pfizer by 4.9% during the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after purchasing an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Pfizer by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock worth $2,985,783,000 after acquiring an additional 8,473,686 shares in the last quarter. Norges Bank bought a new stake in Pfizer during the fourth quarter worth approximately $2,129,927,000. Massachusetts Financial Services Co. MA raised its position in Pfizer by 3.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after purchasing an additional 2,241,609 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of Pfizer by 1.8% in the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock valued at $450,593,000 after purchasing an additional 290,760 shares during the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

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.