Pfizer (NYSE:PFE) Stock Price Down 1.1%

Pfizer Inc. (NYSE:PFE)’s share price fell 1.1% on Thursday . The company traded as low as $29.91 and last traded at $30.20. 11,505,213 shares changed hands during trading, a decline of 71% from the average session volume of 39,871,527 shares. The stock had previously closed at $30.54.

Analyst Ratings Changes

A number of research firms have recently weighed in on PFE. Morgan Stanley increased their target price on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Wednesday. Barclays increased their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday. BMO Capital Markets reiterated an “outperform” rating and set a $36.00 target price (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Finally, Wells Fargo & Company increased 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. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $34.58.

Pfizer Stock Down 0.7 %

The stock’s 50 day simple moving average is $28.73 and its two-hundred day simple moving average is $27.84. The firm has a market cap of $172.43 billion, a P/E ratio of -506.92, a P/E/G ratio of 1.07 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.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.31%. The business had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter last year, the firm earned $0.67 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, research analysts forecast that Pfizer Inc. will post 2.68 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be paid a dividend of $0.42 per share. 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%.

Institutional Investors Weigh In On Pfizer

Institutional investors and hedge funds have recently made changes to their positions in the company. Olistico Wealth LLC bought a new stake in shares of Pfizer during the second quarter valued at approximately $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Pfizer during the second quarter valued at approximately $29,000. Creekmur Asset Management LLC bought a new stake in shares of Pfizer during the fourth quarter valued at approximately $32,000. Trivant Custom Portfolio Group LLC grew its position in Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the period. Finally, Financial Connections Group Inc. bought a new stake in Pfizer in the 2nd quarter worth approximately $34,000. 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.