Pfizer (NYSE:PFE) Stock Price Up 0.3%

Pfizer Inc. (NYSE:PFE) rose 0.3% during trading on Monday . The company traded as high as $28.22 and last traded at $27.82. Approximately 6,375,087 shares traded hands during trading, a decline of 84% from the average daily volume of 41,041,938 shares. The stock had previously closed at $27.74.

Analyst Upgrades and Downgrades

PFE has been the topic of a number of recent research reports. Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Morgan Stanley boosted their target price on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday. Finally, BMO Capital Markets reissued an “outperform” rating and set a $36.00 target price (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.86.

Pfizer Trading Down 2.0 %

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 firm’s 50 day simple moving average is $27.77 and its two-hundred day simple moving average is $27.69. The stock has a market cap of $155.38 billion, a P/E ratio of -456.92, a price-to-earnings-growth ratio of 1.10 and a beta of 0.70.

Pfizer (NYSE:PFE) last released its quarterly 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. The business had revenue of $14.88 billion during the quarter, compared to analyst estimates of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The company’s quarterly revenue was down 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 earnings per share. As a group, equities research analysts predict that Pfizer Inc. will post 2.38 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 10th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.68 annualized dividend and a dividend yield of 6.13%. Pfizer’s dividend payout ratio is currently -2,799.53%.

Hedge Funds Weigh In On Pfizer

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Old Port Advisors grew its position in Pfizer by 10.5% in the 1st quarter. Old Port Advisors now owns 90,379 shares of the biopharmaceutical company’s stock valued at $2,508,000 after buying an additional 8,603 shares in the last quarter. Cape Investment Advisory Inc. grew its position in Pfizer by 43.2% in the 1st quarter. Cape Investment Advisory Inc. now owns 12,318 shares of the biopharmaceutical company’s stock valued at $342,000 after buying an additional 3,715 shares in the last quarter. Keynote Financial Services LLC bought a new position in Pfizer in the 1st quarter valued at about $1,765,000. IMS Capital Management lifted its holdings in Pfizer by 3.3% in the 1st quarter. IMS Capital Management now owns 102,909 shares of the biopharmaceutical company’s stock valued at $2,856,000 after acquiring an additional 3,325 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Pfizer by 39.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 25,946 shares of the biopharmaceutical company’s stock valued at $665,000 after acquiring an additional 7,331 shares during the last quarter. 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.