Pfizer (NYSE:PFE) Trading Down 0.7%

Shares of Pfizer Inc. (NYSE:PFE - Get Free Report) traded down 0.7% during trading on Tuesday . The stock traded as low as $29.83 and last traded at $29.86. 4,646,941 shares were traded during trading, a decline of 88% from the average session volume of 37,876,230 shares. The stock had previously closed at $30.07.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PFE. Wells Fargo & Company lifted their price target on Pfizer from $28.00 to $30.00 and gave the company an "equal weight" rating in a report on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of Pfizer from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Cantor Fitzgerald reissued an "overweight" rating and issued a $45.00 price target on shares of Pfizer in a report on Monday. Daiwa America raised Pfizer from a "moderate buy" rating to a "strong-buy" rating in a report on Wednesday, August 7th. Finally, UBS Group lifted their target price on Pfizer from $30.00 to $31.00 and gave the company a "neutral" rating in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Pfizer has a consensus rating of "Moderate Buy" and an average price target of $34.54.

Pfizer Stock Performance

The stock has a market cap of $169.04 billion, a P/E ratio of -497.08, a PEG ratio of 1.02 and a beta of 0.68. The stock has a fifty day simple moving average of $29.30 and a 200-day simple moving average of $28.18. 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 - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping 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 business had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same quarter last year, the firm earned $0.67 EPS. Pfizer's quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 5.63%. Pfizer's dividend payout ratio is presently -2,799.53%.

Hedge Funds Weigh In On Pfizer

Several institutional investors and hedge funds have recently modified their holdings of PFE. Wellington Management Group LLP raised its stake in shares of Pfizer by 4.9% in the 4th 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. Marshall Wace LLP grew its holdings in shares of Pfizer by 279.3% during the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company's stock worth $150,481,000 after buying an additional 8,378,173 shares in the last quarter. Swedbank AB acquired a new stake in Pfizer in the 1st quarter valued at approximately $172,902,000. Pzena Investment Management LLC lifted its stake in Pfizer by 181.6% in the 1st quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company's stock valued at $212,855,000 after acquiring an additional 4,947,000 shares in the last quarter. Finally, Ruffer LLP boosted its position in Pfizer by 248.7% during the 4th quarter. Ruffer LLP now owns 5,796,012 shares of the biopharmaceutical company's stock worth $166,837,000 after acquiring an additional 4,133,786 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.