Pfizer (NYSE:PFE) Shares Down 0.1%

Pfizer Inc. (NYSE:PFE)’s stock price dropped 0.1% during mid-day trading on Monday . The company traded as low as $29.18 and last traded at $29.40. Approximately 7,715,341 shares traded hands during trading, a decline of 80% from the average daily volume of 37,785,492 shares. The stock had previously closed at $29.42.

Wall Street Analysts Forecast Growth

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

Pfizer Price Performance

The company has a market cap of $166.09 billion, a price-to-earnings ratio of -489.92, a P/E/G ratio of 1.05 and a beta of 0.68. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The company’s 50 day moving average price is $29.36 and its 200 day moving average price is $28.24.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same quarter last year, the business posted $0.67 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed 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 5.73%. The ex-dividend date was Friday, July 26th. Pfizer’s payout ratio is presently -2,799.53%.

Institutional Trading of Pfizer

Hedge funds have recently modified their holdings of the stock. Greater Midwest Financial Group LLC raised its position in Pfizer by 7.8% in the 2nd quarter. Greater Midwest Financial Group LLC now owns 47,052 shares of the biopharmaceutical company’s stock worth $1,359,000 after purchasing an additional 3,403 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Pfizer by 60.3% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 583,600 shares of the biopharmaceutical company’s stock valued at $16,329,000 after buying an additional 219,600 shares during the period. Clifford Capital Partners LLC lifted its stake in shares of Pfizer by 21.3% during the second quarter. Clifford Capital Partners LLC now owns 536,745 shares of the biopharmaceutical company’s stock valued at $15,018,000 after acquiring an additional 94,152 shares during the period. Verity & Verity LLC boosted its holdings in Pfizer by 11.8% in the second quarter. Verity & Verity LLC now owns 531,036 shares of the biopharmaceutical company’s stock valued at $14,858,000 after acquiring an additional 56,071 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. increased its position in Pfizer by 21.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 18,462 shares of the biopharmaceutical company’s stock worth $517,000 after purchasing an additional 3,223 shares during the period. 68.36% of the stock is owned by 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.