Pfizer (NYSE:PFE) Trading Up 0.9%

Pfizer Inc. (NYSE:PFE) shares were up 0.9% on Monday . The company traded as high as $29.83 and last traded at $29.54. Approximately 4,433,478 shares were traded during trading, a decline of 88% from the average daily volume of 37,923,637 shares. The stock had previously closed at $29.27.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Monday. Daiwa Capital Markets upgraded 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 note on Wednesday, August 7th. Barclays raised their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Eight investment 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 company’s stock. Based on data from MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Price Performance

The firm has a market capitalization of $168.58 billion, a price-to-earnings ratio of -498.75, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68. The company’s fifty day moving average price is $29.30 and its 200 day moving average price is $28.18. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. Pfizer’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 earnings per share. Equities research analysts expect that Pfizer Inc. will post 2.66 earnings per share 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 given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 5.65%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s dividend payout ratio is presently -2,799.53%.

Hedge Funds Weigh In On Pfizer

Hedge funds and other institutional investors have recently modified their holdings of the company. Olistico Wealth LLC bought a new stake in Pfizer in the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Pfizer during the second quarter valued at approximately $29,000. Quarry LP acquired a new position in shares of Pfizer during the second quarter worth approximately $31,000. Creekmur Asset Management LLC acquired a new position in shares of Pfizer during the fourth quarter worth approximately $32,000. Finally, Trivant Custom Portfolio Group LLC increased its position in Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 600 shares during the period. 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.