Pfizer (NYSE:PFE) Shares Up 1.8% - What's Next?

Shares of Pfizer Inc. (NYSE:PFE - Get Free Report) traded up 1.8% during trading on Tuesday . The stock traded as high as $24.93 and last traded at $24.71. 9,020,314 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 41,803,169 shares. The stock had previously closed at $24.26.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. UBS Group raised their target price on shares of Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Bank of America raised their target price on shares of Pfizer from $26.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. HSBC decreased their target price on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Wolfe Research raised their target price on shares of Pfizer from $22.00 to $23.00 and gave the company an "underperform" rating in a report on Wednesday, April 30th. Finally, Morgan Stanley lifted their price target on shares of Pfizer from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $28.55.

Pfizer Stock Performance

The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26. The stock has a market cap of $142.84 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 0.89 and a beta of 0.58. The company's 50 day moving average price is $24.07 and its 200-day moving average price is $24.71.

Pfizer (NYSE:PFE - Get Free Report) last posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The firm had revenue of $13.72 billion during the quarter, compared to analyst estimates of $14.43 billion. During the same quarter in the prior year, the business posted $0.82 EPS. The business's revenue was down 7.8% compared to the same quarter last year. Equities analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 6.85%. Pfizer's dividend payout ratio is presently 124.64%.

Hedge Funds Weigh In On Pfizer

Large investors have recently modified their holdings of the company. Norges Bank purchased a new stake in Pfizer in the fourth quarter valued at approximately $2,328,986,000. Pacer Advisors Inc. raised its stake in Pfizer by 856.8% in the first quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company's stock valued at $508,164,000 after purchasing an additional 17,957,928 shares in the last quarter. Amundi raised its stake in Pfizer by 43.4% in the first quarter. Amundi now owns 52,090,403 shares of the biopharmaceutical company's stock valued at $1,265,277,000 after purchasing an additional 15,758,846 shares in the last quarter. Nuveen LLC purchased a new stake in Pfizer in the first quarter valued at approximately $389,861,000. Finally, Starboard Value LP purchased a new stake in Pfizer in the fourth quarter valued at approximately $407,730,000. 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.

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