Pfizer (NYSE:PFE) Trading Down 0.5%

Pfizer Inc. (NYSE:PFE) fell 0.5% during trading on Thursday . The stock traded as low as $27.62 and last traded at $27.70. 15,180,087 shares were traded during mid-day trading, a decline of 49% from the average session volume of 29,961,926 shares. The stock had previously closed at $27.83.

Wall Street Analysts Forecast Growth

PFE has been the topic of several research analyst reports. Argus lowered 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 report on Thursday, May 2nd. Morgan Stanley lifted 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, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday, June 26th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $35.54.

Pfizer Stock Down 0.5 %

The business has a fifty day moving average of $27.99 and a 200 day moving average of $27.71. 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 stock has a market capitalization of $156.96 billion, a price-to-earnings ratio of -461.59, a PEG ratio of 1.09 and a beta of 0.69.

Pfizer (NYSE:PFE) last issued its quarterly earnings data 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 firm 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 was down 19.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 EPS. As a group, equities analysts predict that Pfizer Inc. will post 2.38 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $1.68 annualized dividend and a dividend yield of 6.06%. Pfizer’s dividend payout ratio is currently -2,799.53%.

Hedge Funds Weigh In On Pfizer

Several hedge funds have recently bought and sold shares of the company. Ironvine Capital Partners LLC grew its position in shares of Pfizer by 2.1% during the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock worth $470,000 after acquiring an additional 353 shares during the last quarter. Advisor OS LLC increased its stake in Pfizer by 1.0% in the fourth quarter. Advisor OS LLC now owns 35,202 shares of the biopharmaceutical company’s stock valued at $1,013,000 after purchasing an additional 365 shares during the period. Safeguard Investment Advisory Group LLC grew its holdings in shares of Pfizer by 3.9% during the fourth quarter. Safeguard Investment Advisory Group LLC now owns 9,987 shares of the biopharmaceutical company’s stock worth $288,000 after buying an additional 371 shares during the last quarter. Lantz Financial LLC increased its holdings in shares of Pfizer by 1.3% in the first quarter. Lantz Financial LLC now owns 30,582 shares of the biopharmaceutical company’s stock valued at $849,000 after purchasing an additional 381 shares during the period. Finally, Wellington Shields Capital Management LLC raised its stake in shares of Pfizer by 1.3% during the first quarter. Wellington Shields Capital Management LLC now owns 30,750 shares of the biopharmaceutical company’s stock worth $853,000 after purchasing an additional 385 shares during the last quarter. 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.