Pfizer (NYSE:PFE) Shares Up 1%

Pfizer Inc. (NYSE:PFEGet Free Report) shares rose 1% during trading on Wednesday . The company traded as high as $28.72 and last traded at $28.66. Approximately 8,367,983 shares changed hands during trading, a decline of 80% from the average daily volume of 42,763,281 shares. The stock had previously closed at $28.38.

Analyst Ratings Changes

Several research 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 initiated coverage on Pfizer in a research report on Friday, February 23rd. They issued a “buy” rating and a $36.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Monday, April 15th. Morgan Stanley increased their price target on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Finally, BMO Capital Markets reissued an “outperform” rating and set a $36.00 price target (up previously 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 issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $35.86.

Read Our Latest Stock Report on Pfizer

Pfizer Stock Up 1.5 %

The stock’s 50-day simple moving average is $27.10 and its 200 day simple moving average is $28.03. The firm has a market cap of $163.28 billion, a P/E ratio of -480.25, a PEG ratio of 1.20 and a beta of 0.63. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66.

Pfizer (NYSE:PFEGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The firm had revenue of $14.88 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the prior year, the company posted $1.23 earnings per share. The business’s revenue was down 19.5% on a year-over-year basis. As a group, research analysts forecast that Pfizer Inc. will post 2.39 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be issued a dividend of $0.42 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.68 dividend on an annualized basis and a yield of 5.83%. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Institutional Trading of Pfizer

Institutional investors have recently modified their holdings of the business. Clifford Swan Investment Counsel LLC lifted its stake in Pfizer by 4.7% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 417,070 shares of the biopharmaceutical company’s stock worth $12,007,000 after purchasing an additional 18,611 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in Pfizer by 40.5% during the third quarter. Adage Capital Partners GP L.L.C. now owns 4,739,672 shares of the biopharmaceutical company’s stock worth $157,215,000 after buying an additional 1,365,295 shares in the last quarter. LifePlan Financial LLC bought a new stake in shares of Pfizer during the 4th quarter valued at about $255,000. KLCM Advisors Inc. grew its holdings in shares of Pfizer by 75.0% during the fourth quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock worth $5,004,000 after purchasing an additional 74,487 shares in the last quarter. Finally, Farmers Trust Co. increased its position in shares of Pfizer by 2.0% in the fourth quarter. Farmers Trust Co. now owns 225,881 shares of the biopharmaceutical company’s stock worth $6,503,000 after purchasing an additional 4,410 shares during the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

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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