Pfizer (NYSE:PFE) Trading 0.3% Higher

Pfizer Inc. (NYSE:PFEGet Free Report) traded up 0.3% during mid-day trading on Tuesday . The company traded as high as $29.73 and last traded at $29.41. 9,834,266 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 41,891,664 shares. The stock had previously closed at $29.31.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. 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 report on Thursday, May 2nd. Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Guggenheim initiated coverage on Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Monday, April 15th. Finally, Morgan Stanley raised their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Pfizer has an average rating of “Hold” and a consensus price target of $35.86.

Check Out Our Latest Stock Report on PFE

Pfizer Trading Up 0.2 %

The business has a 50-day moving average price of $27.46 and a two-hundred day moving average price of $27.88. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66.

Pfizer (NYSE:PFEGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.26. The business had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The firm’s revenue for the quarter was down 19.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.23 EPS. Equities analysts predict that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s payout ratio is -2,799.53%.

Hedge Funds Weigh In On Pfizer

Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Pfizer in the fourth quarter worth about $2,129,927,000. Wellington Management Group LLP raised its holdings in Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after acquiring an additional 11,099,024 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Pfizer by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock worth $2,985,783,000 after acquiring an additional 8,473,686 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Pfizer by 13.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after purchasing an additional 8,298,920 shares during the period. Finally, Swedbank AB bought a new position in Pfizer in the 1st quarter worth about $172,902,000. Institutional investors own 68.36% of the company’s stock.

About Pfizer

(Get Free Report)

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.

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