Pfizer (NYSE:PFE) Shares Down 1.1%

Shares of Pfizer Inc. (NYSE:PFE - Get Free Report) were down 1.1% during trading on Friday . The stock traded as low as $29.28 and last traded at $29.32. Approximately 10,945,533 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 37,701,453 shares. The stock had previously closed at $29.66.

Wall Street Analysts Forecast Growth

PFE has been the subject of several analyst reports. Wells Fargo & Company lifted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 31st. Barclays increased their price target on Pfizer from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $45.00 price objective on shares of Pfizer in a report on Monday. StockNews.com upgraded Pfizer from a "hold" rating to a "buy" rating in a research report on Thursday, August 1st. Finally, Daiwa America upgraded Pfizer from a "moderate buy" rating to a "strong-buy" rating in a research report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $34.54.

Pfizer Trading Down 0.8 %

The company has a market capitalization of $166.71 billion, a price-to-earnings ratio of -490.25, a P/E/G ratio of 1.05 and a beta of 0.68. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The business's 50 day moving average price is $29.36 and its two-hundred day moving average price is $28.22.

Pfizer (NYSE:PFE - Get Free Report) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.14. The firm had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $0.67 earnings per share. On average, equities analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer's payout ratio is -2,799.53%.

Institutional Investors Weigh In On Pfizer

Hedge funds have recently added to or reduced their stakes in the business. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in shares of Pfizer in the 4th quarter valued at about $16,166,000. LGT Group Foundation increased its position in Pfizer by 2.5% during the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company's stock valued at $20,786,000 after purchasing an additional 18,274 shares during the period. ORG Partners LLC raised its holdings in Pfizer by 1,729.9% during the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company's stock worth $1,327,000 after purchasing an additional 44,458 shares during the last quarter. Kempner Capital Management Inc. acquired a new position in shares of Pfizer in the 1st quarter worth approximately $2,439,000. Finally, Leo Wealth LLC bought a new stake in shares of Pfizer in the 4th quarter valued at $2,171,000. 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.