Pfizer (NYSE:PFE) Trading 0.2% Higher

Shares of Pfizer Inc. (NYSE:PFE) were up 0.2% on Thursday . The stock traded as high as $30.02 and last traded at $29.81. Approximately 4,312,573 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 37,747,949 shares. The stock had previously closed at $29.75.

Wall Street Analysts Forecast Growth

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

Pfizer Stock Performance

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 stock has a market capitalization of $168.41 billion, a PE ratio of -496.75, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68. The firm’s fifty day moving average is $29.33 and its 200-day moving average is $28.19.

Pfizer (NYSE:PFE) last announced 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 positive return on equity of 8.42% and a negative net margin of 4.66%. The company had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.67 earnings per share. As a group, research analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 was Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Institutional Investors Weigh In On Pfizer

Several institutional investors have recently made changes to their positions in the stock. Olistico Wealth LLC purchased a new position in Pfizer in the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Pfizer during the second quarter worth $29,000. Quarry LP acquired a new position in Pfizer in the second quarter valued at $31,000. Creekmur Asset Management LLC purchased a new stake in Pfizer in the fourth quarter valued at approximately $32,000. Finally, Trivant Custom Portfolio Group LLC lifted its stake in shares of 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 purchasing an additional 600 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

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.