Pfizer (NYSE:PFE) Stock Price Down 0.3%

Pfizer Inc. (NYSE:PFE) shares dropped 0.3% on Wednesday . The stock traded as low as $27.74 and last traded at $27.74. Approximately 4,287,380 shares were traded during trading, a decline of 89% from the average daily volume of 40,349,746 shares. The stock had previously closed at $27.83.

Analyst Ratings Changes

A number of equities analysts have weighed in on PFE shares. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. BMO Capital Markets reiterated an “outperform” rating and set a $36.00 price target (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Morgan Stanley raised 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Wednesday, June 26th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Pfizer has an average rating of “Hold” and an average target price of $35.54.

Pfizer Trading Down 0.3 %

The company has a 50 day simple moving average of $27.96 and a 200 day simple moving average of $27.71. The company has a market capitalization of $157.25 billion, a PE ratio of -462.33, a price-to-earnings-growth ratio of 1.10 and a beta of 0.69. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.56 by $0.26. The firm had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The firm’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.23 earnings per share. Analysts anticipate that Pfizer Inc. will post 2.38 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, July 25th. This represents a $1.68 dividend on an annualized basis and a yield of 6.05%. Pfizer’s payout ratio is presently -2,800.00%.

Institutional Trading of Pfizer

A number of hedge funds have recently bought and sold shares of the business. Teza Capital Management LLC acquired a new position in shares of Pfizer during the 3rd quarter valued at about $347,000. Royal London Asset Management Ltd. grew its stake in shares of Pfizer by 5.1% in the 3rd quarter. Royal London Asset Management Ltd. now owns 2,313,310 shares of the biopharmaceutical company’s stock valued at $76,744,000 after buying an additional 113,175 shares during the period. Industrial Alliance Investment Management Inc. raised its position in shares of Pfizer by 133.5% during the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 12,188 shares of the biopharmaceutical company’s stock valued at $404,000 after buying an additional 6,968 shares during the period. Cito Capital Group LLC lifted its holdings in Pfizer by 3.8% in the third quarter. Cito Capital Group LLC now owns 40,500 shares of the biopharmaceutical company’s stock valued at $1,343,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Baker Avenue Asset Management LP grew its position in Pfizer by 5.9% in the third quarter. Baker Avenue Asset Management LP now owns 33,916 shares of the biopharmaceutical company’s stock worth $1,125,000 after acquiring an additional 1,876 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.