Pfizer (NYSE:PFE) Trading Down 0.8%

Pfizer Inc. (NYSE:PFE)’s stock price was down 0.8% on Friday . The stock traded as low as $28.47 and last traded at $28.54. Approximately 7,034,330 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 39,698,586 shares. The stock had previously closed at $28.76.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PFE shares. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Morgan Stanley raised their price target on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday, July 31st. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 price target (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Finally, Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Stock Down 0.9 %

The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. The company has a market cap of $161.50 billion, a price-to-earnings ratio of -475.67, a P/E/G ratio of 1.07 and a beta of 0.69. The stock has a fifty day moving average price of $28.80 and a two-hundred day moving average price of $27.87.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.31% and a negative net margin of 4.66%. The company had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter last year, the firm earned $0.67 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts expect that Pfizer Inc. will post 2.68 EPS for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s payout ratio is currently -2,800.00%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Turtle Creek Wealth Advisors LLC bought a new position in Pfizer in the fourth quarter valued at about $97,000. Impax Asset Management Group plc grew its position in Pfizer by 16.3% in the fourth quarter. Impax Asset Management Group plc now owns 144,023 shares of the biopharmaceutical company’s stock valued at $4,146,000 after acquiring an additional 20,221 shares during the last quarter. Krilogy Financial LLC grew its position in Pfizer by 43.0% in the fourth quarter. Krilogy Financial LLC now owns 23,848 shares of the biopharmaceutical company’s stock valued at $687,000 after acquiring an additional 7,166 shares during the last quarter. Seelaus Asset Management LLC grew its position in Pfizer by 24.1% in the fourth quarter. Seelaus Asset Management LLC now owns 18,036 shares of the biopharmaceutical company’s stock valued at $519,000 after acquiring an additional 3,508 shares during the last quarter. Finally, Eagle Capital Management LLC bought a new position in Pfizer in the fourth quarter valued at about $3,597,000. Institutional investors own 68.36% of the company’s stock.

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.