Pfizer (NYSE:PFE) Shares Up 0.7%

Pfizer Inc. (NYSE:PFE)’s share price shot up 0.7% during trading on Tuesday . The stock traded as high as $29.76 and last traded at $29.61. 5,737,876 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 38,125,840 shares. The stock had previously closed at $29.41.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PFE. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company increased their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group boosted their price target on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Finally, Barclays lifted their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Stock Performance

The stock has a fifty day moving average of $29.16 and a 200-day moving average of $28.09. 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 stock has a market capitalization of $167.96 billion, a PE ratio of -494.00, a price-to-earnings-growth ratio of 1.00 and a beta of 0.68.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 earnings per share. Equities analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were paid a dividend of $0.42 per share. The ex-dividend date was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.67%. Pfizer’s payout ratio is currently -2,800.00%.

Institutional Trading of Pfizer

A number of hedge funds and other institutional investors have recently bought and sold shares of PFE. Olistico Wealth LLC acquired a new stake in shares of Pfizer during the 2nd quarter worth about $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Pfizer during the 2nd quarter worth approximately $29,000. Quarry LP acquired a new position in shares of Pfizer in the 2nd quarter valued at $31,000. Creekmur Asset Management LLC purchased a new position in shares of Pfizer in the 4th quarter valued at $32,000. Finally, Trivant Custom Portfolio Group LLC raised its stake in 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 acquiring an additional 600 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.