Pfizer (NYSE:PFE) Stock Price Down 0.4%

Pfizer Inc. (NYSE:PFE) shares dropped 0.4% during mid-day trading on Tuesday . The company traded as low as $29.40 and last traded at $29.47. Approximately 4,121,806 shares traded hands during trading, a decline of 90% from the average daily volume of 39,659,031 shares. The stock had previously closed at $29.60.

Analysts Set New Price Targets

PFE has been the subject of a number of recent research reports. Barclays upped their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday, July 10th. Morgan Stanley lifted their target price on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $36.00 price target (up previously from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $34.50.

Pfizer Stock Performance

The stock has a 50-day moving average of $28.43 and a 200 day moving average of $27.73. The firm has a market capitalization of $167.22 billion, a P/E ratio of -491.08, a price-to-earnings-growth ratio of 1.17 and a beta of 0.69. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05.

Pfizer (NYSE:PFE) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.56 by $0.26. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The company had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the prior year, the business earned $1.23 earnings per share. The business’s revenue for the quarter was down 19.5% on a year-over-year basis. On average, research analysts anticipate that Pfizer Inc. will post 2.39 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s dividend payout ratio is presently -2,799.53%.

Institutional Trading of Pfizer

Hedge funds have recently modified their holdings of the stock. Olistico Wealth LLC bought a new position in Pfizer in the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new position in Pfizer during the 2nd quarter valued at about $29,000. Creekmur Asset Management LLC bought a new position in shares of Pfizer in the 4th quarter valued at about $32,000. Trivant Custom Portfolio Group LLC grew its position in shares of Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 600 shares during the period. Finally, Tennessee Valley Asset Management Partners acquired a new position in Pfizer in the fourth quarter valued at approximately $36,000. 68.36% of the stock is owned by institutional investors.

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.