Shares of Pfizer Inc. (NYSE:PFE – Get Free Report) shot up 2% during mid-day trading on Wednesday . The stock traded as high as $29.18 and last traded at $29.13. 8,421,879 shares were traded during trading, a decline of 80% from the average session volume of 42,146,465 shares. The stock had previously closed at $28.56.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on PFE shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Monday, April 15th. Guggenheim assumed coverage on shares of Pfizer in a research note on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective on the stock. Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. BMO Capital Markets restated an “outperform” rating and issued a $36.00 target price (up previously from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Finally, Morgan Stanley boosted their price objective on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $35.86.
Pfizer Trading Up 3.6 %
The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78. The firm’s fifty day moving average price is $27.22 and its 200-day moving average price is $27.96. The company has a market cap of $167.73 billion, a price-to-earnings ratio of -485.42, a P/E/G ratio of 1.20 and a beta of 0.63.
Pfizer (NYSE:PFE – Get Free Report) last posted its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.56 by $0.26. The firm had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. Pfizer’s quarterly revenue was down 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 EPS. On average, equities analysts expect that Pfizer Inc. will post 2.39 EPS for the current fiscal year.
Pfizer Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 10th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.68 dividend on an annualized basis and a yield of 5.68%. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.
Institutional Investors Weigh In On Pfizer
Hedge funds and other institutional investors have recently modified their holdings of the stock. Main Street Financial Solutions LLC boosted its position in shares of Pfizer by 5.4% during the 3rd quarter. Main Street Financial Solutions LLC now owns 26,031 shares of the biopharmaceutical company’s stock valued at $863,000 after purchasing an additional 1,331 shares in the last quarter. SageView Advisory Group LLC grew its holdings in shares of Pfizer by 49.0% in the 3rd quarter. SageView Advisory Group LLC now owns 44,213 shares of the biopharmaceutical company’s stock worth $1,467,000 after acquiring an additional 14,539 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Pfizer by 21.8% in the 3rd quarter. Larson Financial Group LLC now owns 20,343 shares of the biopharmaceutical company’s stock worth $675,000 after acquiring an additional 3,639 shares during the last quarter. Berger Financial Group Inc lifted its holdings in shares of Pfizer by 25.2% during the third quarter. Berger Financial Group Inc now owns 26,298 shares of the biopharmaceutical company’s stock valued at $872,000 after purchasing an additional 5,298 shares during the last quarter. Finally, MGO One Seven LLC boosted its position in shares of Pfizer by 6.8% in the 3rd quarter. MGO One Seven LLC now owns 84,399 shares of the biopharmaceutical company’s stock valued at $2,800,000 after purchasing an additional 5,355 shares during the period. 68.36% of the stock is currently 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.