Pfizer (NYSE:PFE) Stock Price Down 0.8%

Pfizer Inc. (NYSE:PFE)’s share price fell 0.8% during trading on Wednesday . The company traded as low as $27.71 and last traded at $27.78. 3,784,137 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 40,850,707 shares. The stock had previously closed at $27.99.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday. Morgan Stanley boosted their price objective on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 target price (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Pfizer has an average rating of “Hold” and an average target price of $35.86.

Pfizer Stock Performance

The stock has a market capitalization of $155.26 billion, a PE ratio of -463.42, a price-to-earnings-growth ratio of 1.10 and a beta of 0.70. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. The stock has a fifty day moving average of $27.77 and a 200-day moving average of $27.69.

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

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 10th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 6.13%. The ex-dividend date was Thursday, May 9th. Pfizer’s payout ratio is -2,799.53%.

Institutional Trading of Pfizer

Hedge funds and other institutional investors have recently made changes to their positions in the company. Clifford Swan Investment Counsel LLC raised its stake in Pfizer by 4.7% during the 4th quarter. Clifford Swan Investment Counsel LLC now owns 417,070 shares of the biopharmaceutical company’s stock valued at $12,007,000 after acquiring an additional 18,611 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in Pfizer by 40.5% during the third quarter. Adage Capital Partners GP L.L.C. now owns 4,739,672 shares of the biopharmaceutical company’s stock worth $157,215,000 after buying an additional 1,365,295 shares in the last quarter. LifePlan Financial LLC acquired a new position in Pfizer in the 4th quarter valued at about $255,000. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in Pfizer in the 4th quarter valued at about $16,166,000. Finally, KLCM Advisors Inc. raised its stake in Pfizer by 75.0% in the 4th quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock valued at $5,004,000 after purchasing an additional 74,487 shares during the last quarter. 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.