Pfizer (NYSE:PFE) Shares Down 1.8%

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

Analyst Upgrades and Downgrades

PFE has been the subject of several recent research reports. BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 price target (up previously from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday. Morgan Stanley lifted their price objective on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Barclays increased their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Wells Fargo & Company upped their price target on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday. 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, Pfizer has a consensus rating of “Hold” and an average target price of $34.58.

Pfizer Stock Down 2.7 %

The business’s fifty day moving average is $28.64 and its two-hundred day moving average is $27.79. The stock has a market cap of $173.06 billion, a price-to-earnings ratio of -509.00, a PEG ratio of 1.20 and a beta of 0.69. 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 released its earnings results 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 positive return on equity of 8.64% and a negative net margin of 0.56%. The firm had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same period last year, the business posted $0.67 earnings per share. Pfizer’s revenue was up 2.1% compared to the same quarter last year. Equities analysts forecast that Pfizer Inc. will post 2.38 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 5.50%. Pfizer’s payout ratio is -2,800.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PFE. Argus Investors Counsel Inc. raised its stake in Pfizer by 17.2% during the 4th quarter. Argus Investors Counsel Inc. now owns 43,315 shares of the biopharmaceutical company’s stock worth $1,247,000 after acquiring an additional 6,350 shares in the last quarter. Benchmark Financial Wealth Advisors LLC purchased a new stake in shares of Pfizer in the 4th quarter valued at about $235,000. Physician Wealth Advisors Inc. boosted its position in shares of Pfizer by 5.1% in the 4th quarter. Physician Wealth Advisors Inc. now owns 10,571 shares of the biopharmaceutical company’s stock valued at $299,000 after purchasing an additional 509 shares during the period. Colonial River Wealth Management LLC grew its stake in Pfizer by 33.5% during the 4th quarter. Colonial River Wealth Management LLC now owns 38,168 shares of the biopharmaceutical company’s stock worth $1,099,000 after buying an additional 9,572 shares during the last quarter. Finally, Denver Wealth Management Inc. increased its position in Pfizer by 3.8% during the fourth quarter. Denver Wealth Management Inc. now owns 12,908 shares of the biopharmaceutical company’s stock worth $372,000 after buying an additional 467 shares during the period. Institutional investors and hedge funds 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.