Pfizer (NYSE:PFE) Shares Up 0.9%

Pfizer Inc. (NYSE:PFE)’s share price was up 0.9% during trading on Tuesday . The stock traded as high as $29.58 and last traded at $29.56. Approximately 5,411,390 shares were traded during trading, a decline of 86% from the average daily volume of 37,696,383 shares. The stock had previously closed at $29.31.

Analyst Ratings Changes

A number of analysts have recently weighed in on PFE shares. Wells Fargo & Company upped their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. UBS Group raised their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Stock Up 0.2 %

The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The firm has a market cap of $166.43 billion, a P/E ratio of -492.58, a P/E/G ratio of 1.05 and a beta of 0.68. The business has a 50-day moving average price of $29.36 and a 200-day moving average price of $28.26.

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

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.72%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s payout ratio is currently -2,799.53%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. LGT Group Foundation raised its holdings in shares of Pfizer by 2.5% in the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after buying an additional 18,274 shares during the period. ORG Partners LLC increased its stake in Pfizer by 1,729.9% in the second quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock valued at $1,327,000 after purchasing an additional 44,458 shares during the last quarter. Kempner Capital Management Inc. acquired a new stake in shares of Pfizer during the first quarter worth about $2,439,000. Leo Wealth LLC purchased a new stake in shares of Pfizer in the 4th quarter valued at about $2,171,000. Finally, Power Corp of Canada grew its stake in Pfizer by 28.1% during the 4th quarter. Power Corp of Canada now owns 174,201 shares of the biopharmaceutical company’s stock worth $5,015,000 after buying an additional 38,243 shares during the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

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.