Pfizer (NYSE:PFE) Shares Up 1.3%

Pfizer Inc. (NYSE:PFE)’s stock price shot up 1.3% during trading on Wednesday . The stock traded as high as $28.19 and last traded at $28.08. 6,433,880 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 39,865,332 shares. The stock had previously closed at $27.72.

Wall Street Analyst Weigh In

Several research firms recently commented on PFE. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Wednesday. Morgan Stanley boosted their price target on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Argus cut Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, 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 note on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $35.54.

Pfizer Trading Up 1.7 %

The stock has a market cap of $159.68 billion, a P/E ratio of -469.59, a PEG ratio of 1.10 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. The business’s 50 day simple moving average is $28.18 and its 200 day simple moving average is $27.71.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.26. The company had revenue of $14.88 billion during the quarter, compared to analyst estimates of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The company’s revenue was down 19.5% on a year-over-year basis. During the same quarter last year, the business posted $1.23 earnings per share. On average, analysts expect that Pfizer Inc. will post 2.38 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date is Thursday, July 25th. Pfizer’s dividend payout ratio is currently -2,799.53%.

Institutional Trading of Pfizer

A number of institutional investors have recently bought and sold shares of the business. Public Sector Pension Investment Board increased its stake in shares of Pfizer by 11.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 604,780 shares of the biopharmaceutical company’s stock worth $20,061,000 after purchasing an additional 64,208 shares during the last quarter. EP Wealth Advisors LLC increased its stake in shares of Pfizer by 11,042.3% during the 3rd quarter. EP Wealth Advisors LLC now owns 362,126 shares of the biopharmaceutical company’s stock worth $12,012,000 after purchasing an additional 358,876 shares during the last quarter. Quantum Financial Advisors LLC increased its stake in shares of Pfizer by 57.4% during the 3rd quarter. Quantum Financial Advisors LLC now owns 9,555 shares of the biopharmaceutical company’s stock worth $317,000 after purchasing an additional 3,486 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Pfizer during the 3rd quarter worth about $641,000. Finally, Fidelity D & D Bancorp Inc. acquired a new position in Pfizer in the 3rd quarter valued at about $248,000. 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.