Pfizer (NYSE:PFE) Stock Price Down 0.5%

Pfizer Inc. (NYSE:PFE) shares dropped 0.5% during trading on Tuesday . The stock traded as low as $28.08 and last traded at $28.21. Approximately 5,641,075 shares were traded during trading, a decline of 86% from the average daily volume of 40,989,359 shares. The stock had previously closed at $28.36.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 price target (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Morgan Stanley raised their price target 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. Finally, Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $35.86.

Pfizer Trading Down 2.0 %

The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05. The firm has a market cap of $155.38 billion, a price-to-earnings ratio of -456.92, a P/E/G ratio of 1.10 and a beta of 0.70. The company’s 50-day moving average is $27.77 and its 200-day moving average is $27.69.

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

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th 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 6.13%. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

Institutional Trading of Pfizer

A number of institutional investors have recently bought and sold shares of PFE. Norges Bank bought a new stake in Pfizer in the fourth quarter valued at about $2,129,927,000. Wellington Management Group LLP increased its stake in shares of Pfizer by 4.9% in 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 last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Pfizer by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after acquiring an additional 8,473,686 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in 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 worth $1,972,300,000 after acquiring an additional 8,298,920 shares during the last quarter. Finally, Swedbank AB bought a new stake in Pfizer in the first quarter valued at approximately $172,902,000. Institutional investors and hedge funds 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.