Pfizer (NYSE:PFE) Shares Up 0.1% – Here’s Why

Pfizer Inc. (NYSE:PFE)’s stock price traded up 0.1% on Friday . The company traded as high as $28.72 and last traded at $28.67. 4,936,182 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 36,747,297 shares. The stock had previously closed at $28.64.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Citigroup assumed coverage on shares of Pfizer in a research report on Friday. They issued a “neutral” rating and a $30.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Wednesday. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. Finally, UBS Group upped their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Eight investment 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Stock Down 0.4 %

The firm’s 50 day simple moving average is $29.07 and its 200 day simple moving average is $28.48. The company has a market cap of $161.67 billion, a price-to-earnings ratio of -62.32, a price-to-earnings-growth ratio of 1.01 and a beta of 0.67. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same quarter last year, the business earned $0.67 earnings per share. Pfizer’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Pfizer Inc. will post 2.67 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.89%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently -365.21%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PFE. Global Assets Advisory LLC bought a new position in shares of Pfizer in the first quarter valued at approximately $725,000. Atlas Capital Advisors LLC boosted its holdings in Pfizer by 54.4% during the first quarter. Atlas Capital Advisors LLC now owns 1,702 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 600 shares in the last quarter. 180 Wealth Advisors LLC boosted its holdings in Pfizer by 3.1% during the first quarter. 180 Wealth Advisors LLC now owns 28,489 shares of the biopharmaceutical company’s stock worth $791,000 after buying an additional 857 shares in the last quarter. Hennessy Advisors Inc. boosted its holdings in Pfizer by 2.9% during the first quarter. Hennessy Advisors Inc. now owns 183,800 shares of the biopharmaceutical company’s stock worth $5,100,000 after buying an additional 5,200 shares in the last quarter. Finally, Addenda Capital Inc. boosted its holdings in Pfizer by 0.5% during the first quarter. Addenda Capital Inc. now owns 199,272 shares of the biopharmaceutical company’s stock worth $5,530,000 after buying an additional 947 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

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.