Pfizer (NYSE:PFE) Stock Price Up 0.8%

Pfizer Inc. (NYSE:PFE - Get Free Report)'s share price traded up 0.8% on Wednesday . The company traded as high as $28.06 and last traded at $27.99. 8,508,169 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 43,185,332 shares. The stock had previously closed at $27.77.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PFE shares. BMO Capital Markets reaffirmed an "outperform" rating and set a $36.00 price objective (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Argus lowered shares of Pfizer from a "buy" rating to a "hold" rating in a research note on Friday, March 22nd. Cantor Fitzgerald restated an "overweight" rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday, April 15th. Guggenheim started coverage on shares of Pfizer in a report on Friday, February 23rd. They issued a "buy" rating and a $36.00 target price for the company. Finally, Morgan Stanley boosted their price target on shares of Pfizer from $28.00 to $29.00 and gave the company an "equal weight" rating in a research report on Thursday, May 2nd. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Pfizer presently has an average rating of "Hold" and a consensus target price of $36.00.

Pfizer Trading Up 1.8 %

The company has a 50 day simple moving average of $26.92 and a 200 day simple moving average of $28.12. The stock has a market capitalization of $160.11 billion, a PE ratio of -471.17, a P/E/G ratio of 1.17 and a beta of 0.63. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly 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 business had revenue of $14.88 billion during the quarter, compared to analysts' expectations of $13.87 billion. Pfizer had a positive return on equity of 8.58% and a negative net margin of 0.56%. The company's quarterly revenue was down 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.23 earnings per share. Analysts predict that Pfizer Inc. will post 2.39 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be paid 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 dividend yield of 5.94%. Pfizer's dividend payout ratio (DPR) is -2,799.53%.

Institutional Investors Weigh In On Pfizer

A number of hedge funds have recently added to or reduced their stakes in PFE. Trifecta Capital Advisors LLC grew its holdings in Pfizer by 3.7% during the third quarter. Trifecta Capital Advisors LLC now owns 9,197 shares of the biopharmaceutical company's stock worth $305,000 after acquiring an additional 325 shares during the period. Confluence Wealth Services Inc. boosted its stake in shares of Pfizer by 0.5% during the third quarter. Confluence Wealth Services Inc. now owns 65,053 shares of the biopharmaceutical company's stock valued at $2,158,000 after acquiring an additional 342 shares during the last quarter. Carr Financial Group Corp increased its position in Pfizer by 3.3% during the 3rd quarter. Carr Financial Group Corp now owns 11,012 shares of the biopharmaceutical company's stock worth $344,000 after purchasing an additional 355 shares in the last quarter. Advisor OS LLC raised its position in shares of 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 buying an additional 365 shares during the last quarter. Finally, Lafayette Investments Inc. grew its stake in Pfizer by 2.2% in the 3rd quarter. Lafayette Investments Inc. now owns 17,470 shares of the biopharmaceutical company's stock worth $579,000 after acquiring an additional 368 shares during the period. 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.