Pfizer (NYSE:PFE) Stock Price Up 0.3%

Pfizer Inc. (NYSE:PFE)’s share price was up 0.3% during trading on Friday . The company traded as high as $28.90 and last traded at $28.82. Approximately 4,713,697 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 38,303,539 shares. The stock had previously closed at $28.72.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Morgan Stanley lifted their price target on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. BMO Capital Markets restated an “outperform” rating and set a $36.00 target price (up previously from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Finally, UBS Group boosted their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Trading Up 0.2 %

The stock has a market cap of $163.08 billion, a price-to-earnings ratio of -480.33, a P/E/G ratio of 0.98 and a beta of 0.69. 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 business’s 50 day moving average is $28.95 and its 200 day moving average is $27.99.

Pfizer (NYSE:PFE) last announced 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 negative net margin of 4.66% and a positive return on equity of 8.42%. The business had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same period in the prior year, the company earned $0.67 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts expect that Pfizer Inc. will post 2.68 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.84%. Pfizer’s dividend payout ratio is presently -2,800.00%.

Hedge Funds Weigh In On Pfizer

Large investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its holdings in Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after acquiring an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Pfizer by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after acquiring an additional 8,473,686 shares during the last quarter. Norges Bank acquired a new stake in Pfizer in the fourth quarter valued at approximately $2,129,927,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Pfizer by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after buying an additional 2,241,609 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Pfizer by 1.8% in the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after buying an additional 290,760 shares during the last quarter. Hedge funds and other institutional investors 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.