Pfizer Inc. (NYSE:PFE – Get Free Report) was down 0.4% during trading on Thursday . The stock traded as low as $28.31 and last traded at $28.40. Approximately 5,187,743 shares changed hands during trading, a decline of 86% from the average daily volume of 37,063,160 shares. The stock had previously closed at $28.52.
Analyst Ratings Changes
Several research firms recently issued reports on PFE. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. Sanford C. Bernstein initiated coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. Barclays raised their target price on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. UBS Group upped their target price on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.58.
Get Our Latest Stock Analysis on Pfizer
Pfizer Price Performance
Pfizer (NYSE:PFE – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.17) earnings per share. As a group, analysts forecast that Pfizer Inc. will post 2.67 EPS for the current fiscal year.
Pfizer Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.89%. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.
Hedge Funds Weigh In On Pfizer
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cornerstone Wealth Management LLC increased its holdings in shares of Pfizer by 19.4% in the 1st quarter. Cornerstone Wealth Management LLC now owns 63,545 shares of the biopharmaceutical company’s stock worth $1,763,000 after buying an additional 10,314 shares during the last quarter. First Trust Direct Indexing L.P. lifted its stake in Pfizer by 45.0% in the first quarter. First Trust Direct Indexing L.P. now owns 51,735 shares of the biopharmaceutical company’s stock worth $1,436,000 after purchasing an additional 16,060 shares during the last quarter. Accel Wealth Management purchased a new stake in Pfizer during the first quarter valued at about $205,000. American National Bank & Trust Co. VA bought a new position in shares of Pfizer during the first quarter valued at about $285,000. Finally, China Universal Asset Management Co. Ltd. purchased a new position in shares of Pfizer in the first quarter worth about $315,000. 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.
Featured Stories
- Five stocks we like better than Pfizer
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- Microsoft Can Hit New All-Time Highs This Year – Here’s Why
- What is a Bond Market Holiday? How to Invest and Trade
- Zillow Stock’s Bull Case: Why This Recent Sell-Off Could Be a Buy
- Stock Market Upgrades: What Are They?
- IonQ’s Quantum Surge: Ride the Wave or Cash Out?
Receive News & Ratings for Pfizer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfizer and related companies with MarketBeat.com's FREE daily email newsletter.