Pfizer (NYSE:PFE) Shares Down 2.3%

Pfizer Inc. (NYSE:PFE) was down 2.3% on Thursday . The company traded as low as $28.79 and last traded at $28.91. Approximately 13,841,966 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 42,272,527 shares. The stock had previously closed at $29.60.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PFE shares. Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Monday, April 15th. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 target price (up previously from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Morgan Stanley boosted their target price on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Finally, Guggenheim assumed coverage on shares of Pfizer in a research note on Friday, February 23rd. They set a “buy” rating and a $36.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Pfizer presently has a consensus rating of “Hold” and an average target price of $35.86.

Pfizer Trading Down 2.7 %

The company has a market cap of $163.25 billion, a P/E ratio of -480.75, a PEG ratio of 1.11 and a beta of 0.63. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average is $27.24 and its two-hundred day moving average is $27.97.

Pfizer (NYSE:PFE) last released its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.26. The business had revenue of $14.88 billion for the quarter, compared to analyst estimates of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. Pfizer’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 earnings per share. As a group, equities research analysts anticipate that Pfizer Inc. will post 2.39 EPS for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be issued a $0.42 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.68 annualized dividend and a yield of 5.83%. Pfizer’s payout ratio is -2,799.53%.

Hedge Funds Weigh In On Pfizer

Institutional investors have recently made changes to their positions in the stock. Clifford Swan Investment Counsel LLC grew its position in Pfizer by 4.7% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 417,070 shares of the biopharmaceutical company’s stock worth $12,007,000 after purchasing an additional 18,611 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in Pfizer by 40.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,739,672 shares of the biopharmaceutical company’s stock worth $157,215,000 after purchasing an additional 1,365,295 shares in the last quarter. LifePlan Financial LLC bought a new stake in Pfizer in the 4th quarter worth about $255,000. KLCM Advisors Inc. grew its position in Pfizer by 75.0% in the 4th quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock worth $5,004,000 after purchasing an additional 74,487 shares in the last quarter. Finally, Farmers Trust Co. grew its position in Pfizer by 2.0% in the 4th quarter. Farmers Trust Co. now owns 225,881 shares of the biopharmaceutical company’s stock worth $6,503,000 after purchasing an additional 4,410 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

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.