Pfizer (NYSE:PFE) Shares Up 2%

Pfizer Inc. (NYSE:PFE)’s stock price was up 2% on Monday . The stock traded as high as $29.24 and last traded at $29.14. Approximately 6,329,588 shares changed hands during trading, a decline of 83% from the average daily volume of 38,143,926 shares. The stock had previously closed at $28.56.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PFE. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Barclays increased their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Monday. UBS Group increased their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Stock Performance

The stock has a market cap of $168.07 billion, a price-to-earnings ratio of -487.67, a P/E/G ratio of 1.00 and a beta of 0.68. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The company has a 50 day simple moving average of $29.12 and a 200 day simple moving average of $28.08.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $12.96 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.66%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is -2,800.00%.

Hedge Funds Weigh In On Pfizer

Several large investors have recently bought and sold shares of PFE. Newbridge Financial Services Group Inc. raised its holdings in Pfizer by 21.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 18,462 shares of the biopharmaceutical company’s stock valued at $517,000 after buying an additional 3,223 shares during the last quarter. Bluefin Capital Management LLC raised its stake in shares of Pfizer by 9.0% during the second quarter. Bluefin Capital Management LLC now owns 10,569 shares of the biopharmaceutical company’s stock valued at $296,000 after acquiring an additional 869 shares during the last quarter. Heritage Wealth Management Inc. bought a new stake in shares of Pfizer in the second quarter worth $1,351,000. Lazari Capital Management Inc. increased its holdings in Pfizer by 2.9% in the second quarter. Lazari Capital Management Inc. now owns 18,895 shares of the biopharmaceutical company’s stock valued at $529,000 after purchasing an additional 536 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in Pfizer during the 2nd quarter worth $16,534,000. 68.36% of the stock is currently owned by institutional investors.

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.