Pfizer (NYSE:PFE) Shares Down 1.6%

Pfizer Inc. (NYSE:PFE) shares dropped 1.6% during trading on Wednesday . The company traded as low as $29.14 and last traded at $29.26. Approximately 8,139,236 shares were traded during trading, a decline of 79% from the average daily volume of 38,112,266 shares. The stock had previously closed at $29.74.

Wall Street Analyst Weigh In

PFE has been the topic of a number of recent analyst reports. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Monday. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. UBS Group upped their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Trading Down 0.9 %

The stock has a market capitalization of $167.05 billion, a P/E ratio of -487.67, a price-to-earnings-growth ratio of 1.00 and a beta of 0.68. The stock’s fifty day moving average price is $29.12 and its two-hundred day moving average price is $28.08. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping 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 period in the previous year, the firm posted $0.67 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts forecast that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 5.70%. Pfizer’s payout ratio is -2,800.00%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PFE. Olistico Wealth LLC purchased a new stake in Pfizer in the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC purchased a new stake in Pfizer in the second quarter worth $29,000. Quarry LP bought a new stake in Pfizer in the second quarter valued at $31,000. Creekmur Asset Management LLC purchased a new position in Pfizer during the 4th quarter valued at $32,000. Finally, Trivant Custom Portfolio Group LLC raised its holdings in Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other 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.