Pfizer (NYSE:PFE) Stock Price Down 0.3%

Pfizer Inc. (NYSE:PFEGet Free Report)’s share price traded down 0.3% during trading on Friday . The stock traded as low as $27.43 and last traded at $27.57. 9,055,136 shares changed hands during trading, a decline of 78% from the average session volume of 41,331,168 shares. The stock had previously closed at $27.65.

Analyst Ratings Changes

PFE has been the topic of several research reports. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Monday, April 15th. Morgan Stanley upped their price objective on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Guggenheim started coverage on shares of Pfizer in a report on Friday, February 23rd. They set a “buy” rating and a $36.00 target price for the company. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $36.00 price target (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Pfizer presently has an average rating of “Hold” and a consensus target price of $35.86.

Check Out Our Latest Stock Analysis on PFE

Pfizer Stock Performance

The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $27.55 and a two-hundred day moving average price of $27.81. The firm has a market cap of $155.94 billion, a PE ratio of -459.42, a P/E/G ratio of 1.09 and a beta of 0.70.

Pfizer (NYSE:PFEGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.56 by $0.26. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The firm had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the prior year, the company earned $1.23 EPS. The firm’s revenue was down 19.5% compared to the same quarter last year. Research analysts forecast that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.10%. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Hedge Funds Weigh In On Pfizer

A number of institutional investors have recently added to or reduced their stakes in PFE. Wellington Management Group LLP grew its holdings in shares of Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after purchasing an additional 11,099,024 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Pfizer by 8.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock worth $2,985,783,000 after buying an additional 8,473,686 shares during the last quarter. Morgan Stanley raised its position in shares of Pfizer by 0.4% during the 3rd quarter. Morgan Stanley now owns 84,927,802 shares of the biopharmaceutical company’s stock valued at $2,817,055,000 after buying an additional 348,628 shares during the period. Norges Bank acquired a new position in Pfizer in the fourth quarter valued at approximately $2,129,927,000. Finally, Massachusetts Financial Services Co. MA grew its position in Pfizer by 13.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after acquiring an additional 8,298,920 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

About Pfizer

(Get Free Report)

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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