Pfizer (NYSE:PFE) Trading Down 0.7%

Pfizer Inc. (NYSE:PFE)’s stock price fell 0.7% during trading on Tuesday . The company traded as low as $29.83 and last traded at $29.86. 4,646,941 shares changed hands during trading, a decline of 88% from the average session volume of 37,876,230 shares. The stock had previously closed at $30.07.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PFE shares. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Barclays lifted their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company upped their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Trading Down 0.3 %

The company has a fifty day moving average price of $29.33 and a 200-day moving average price of $28.19. The firm has a market capitalization of $168.58 billion, a price-to-earnings ratio of -495.75, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same period in the previous year, the company earned $0.67 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts predict that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 5.65%. Pfizer’s dividend payout ratio (DPR) is currently -2,799.53%.

Institutional Trading of Pfizer

Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP grew its holdings in Pfizer by 4.9% during the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after purchasing an additional 11,099,024 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Pfizer by 3.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after acquiring an additional 2,241,609 shares during the period. Van ECK Associates Corp lifted its position in Pfizer by 1.8% during the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after acquiring an additional 290,760 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Pfizer by 3.3% during the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after acquiring an additional 470,003 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Pfizer by 2.4% in the second quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock valued at $287,077,000 after purchasing an additional 238,850 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Company Profile

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.