Pfizer (NYSE:PFE) Shares Down 1.3%

Pfizer Inc. (NYSE:PFE) shares fell 1.3% on Tuesday . The stock traded as low as $28.37 and last traded at $28.64. 14,357,797 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 38,353,707 shares. The stock had previously closed at $29.01.

Analyst Upgrades and Downgrades

PFE has been the subject of several research analyst reports. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Barclays upped their target price on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Monday, August 19th. UBS Group upped their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Price Performance

The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The firm has a market cap of $161.55 billion, a price-to-earnings ratio of -477.09, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68. The company’s 50-day moving average is $29.03 and its 200-day moving average is $28.04.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were given a $0.42 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.89%. Pfizer’s dividend payout ratio is currently -2,799.53%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Olistico Wealth LLC bought a new position in Pfizer in the second quarter valued at about $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Pfizer during the second quarter worth $29,000. Quarry LP bought a new stake in shares of Pfizer in the second quarter worth $31,000. Creekmur Asset Management LLC acquired a new stake in Pfizer in the fourth quarter valued at $32,000. Finally, Trivant Custom Portfolio Group LLC grew its position in shares of Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 600 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.