Pfizer (NYSE:PFE) Trading 0.1% Higher – What’s Next?

Pfizer Inc. (NYSE:PFE)’s stock price shot up 0.1% during mid-day trading on Wednesday . The company traded as high as $29.11 and last traded at $28.88. 4,628,443 shares were traded during trading, a decline of 87% from the average session volume of 36,842,398 shares. The stock had previously closed at $28.84.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PFE. Citigroup assumed coverage on Pfizer in a research report on Friday. They set a “neutral” rating and a $30.00 price objective for the company. UBS Group boosted their price objective on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday. Finally, Sanford C. Bernstein initiated coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Stock Down 0.5 %

The business has a fifty day moving average price of $29.07 and a two-hundred day moving average price of $28.48. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The firm has a market cap of $161.50 billion, a PE ratio of -62.32, a P/E/G ratio of 1.01 and a beta of 0.67.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts anticipate that Pfizer Inc. will post 2.67 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.89%. Pfizer’s dividend payout ratio is currently -365.21%.

Institutional Trading of Pfizer

A number of institutional investors and hedge funds have recently made changes to their positions in PFE. Olistico Wealth LLC acquired a new stake in shares of Pfizer in the second quarter worth about $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Pfizer during the 2nd quarter worth about $29,000. Quarry LP acquired a new position in shares of Pfizer during the 2nd quarter worth about $31,000. Trivant Custom Portfolio Group LLC lifted its position in shares of Pfizer by 100.0% during 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 last quarter. Finally, Financial Connections Group Inc. acquired a new position in shares of Pfizer during the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

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.