Pfizer (NYSE:PFE) Shares Up 2%

Pfizer Inc. (NYSE:PFE)’s share price was up 2% during trading on Wednesday . The stock traded as high as $29.18 and last traded at $29.13. Approximately 8,421,879 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 42,146,465 shares. The stock had previously closed at $28.56.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PFE shares. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Guggenheim started coverage on shares of Pfizer in a research note on Friday, February 23rd. They issued a “buy” rating and a $36.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Monday, April 15th. BMO Capital Markets reiterated an “outperform” rating and set a $36.00 target price (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Finally, Morgan Stanley boosted their price target on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Pfizer presently has a consensus rating of “Hold” and an average price target of $35.86.

Pfizer Stock Performance

The company’s 50-day simple moving average is $27.26 and its two-hundred day simple moving average is $27.98. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the prior year, the business posted $1.23 earnings per share. The business’s quarterly revenue was down 19.5% on a year-over-year basis. On average, equities analysts anticipate that Pfizer Inc. will post 2.38 EPS for the current year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 10th will be given a $0.42 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.84%. Pfizer’s payout ratio is currently -2,799.53%.

Institutional Trading of Pfizer

Several institutional investors and hedge funds have recently modified their holdings of PFE. VisionPoint Advisory Group LLC grew its position in shares of Pfizer by 52,350.0% during the third quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 1,047 shares in the last quarter. GoalVest Advisory LLC raised its position in shares of Pfizer by 304.9% during the fourth quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 811 shares during the last quarter. Creekmur Asset Management LLC purchased a new position in shares of Pfizer in the fourth quarter worth $32,000. Trivant Custom Portfolio Group LLC boosted its position in shares of Pfizer by 100.0% during the first 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 during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new position in Pfizer during the fourth quarter valued at $36,000. 68.36% of the stock is currently 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.