Pfizer (NYSE:PFE) Trading 1.5% Higher

Pfizer Inc. (NYSE:PFE)’s stock price rose 1.5% during mid-day trading on Monday . The company traded as high as $28.63 and last traded at $28.41. Approximately 7,484,103 shares traded hands during trading, a decline of 82% from the average daily volume of 40,641,523 shares. The stock had previously closed at $27.98.

Analysts Set New Price Targets

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

Pfizer Trading Up 0.9 %

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 stock’s 50 day moving average is $27.90 and its 200-day moving average is $27.69. The company has a market capitalization of $159.97 billion, a P/E ratio of -470.42, a P/E/G ratio of 1.10 and a beta of 0.69.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.26. The company had revenue of $14.88 billion for the quarter, compared to analyst estimates 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 was down 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 earnings per share. As a group, equities research 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 5.95%. Pfizer’s dividend payout ratio (DPR) is currently -2,799.53%.

Hedge Funds Weigh In On Pfizer

Institutional investors and hedge funds have recently made changes to their positions in the business. GoalVest Advisory LLC grew its position in Pfizer by 304.9% during the 4th quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 811 shares during the last quarter. Creekmur Asset Management LLC bought a new position in shares of Pfizer in the fourth quarter worth approximately $32,000. Trivant Custom Portfolio Group LLC grew its holdings in shares of Pfizer by 100.0% during the first 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. VisionPoint Advisory Group LLC increased its position in shares of Pfizer by 52,350.0% during the third quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock valued at $35,000 after acquiring an additional 1,047 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new position in Pfizer in the 4th quarter worth approximately $36,000. 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.