Pfizer (NYSE:PFE) Shares Up 0.5%

Pfizer Inc. (NYSE:PFE) shot up 0.5% during mid-day trading on Tuesday . The stock traded as high as $26.47 and last traded at $26.38. 5,125,726 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 41,850,047 shares. The stock had previously closed at $26.26.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PFE. TD Cowen cut Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a research note on Thursday, January 4th. Argus cut Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Monday, April 15th. Finally, Guggenheim began coverage on Pfizer in a research note on Friday, February 23rd. They issued a “buy” rating and a $36.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.33.

Pfizer Stock Down 0.2 %

The company’s fifty day moving average price is $27.05 and its 200-day moving average price is $28.50. The stock has a market capitalization of $148.70 billion, a PE ratio of 72.94, a price-to-earnings-growth ratio of 1.19 and a beta of 0.61. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.29. Pfizer had a net margin of 3.62% and a return on equity of 10.88%. The firm had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.37 billion. During the same period last year, the business earned $1.14 earnings per share. The business’s revenue was down 41.3% on a year-over-year basis. Analysts forecast that Pfizer Inc. will post 2.24 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.40%. Pfizer’s payout ratio is currently 466.67%.

Hedge Funds Weigh In On Pfizer

A number of hedge funds have recently added to or reduced their stakes in the company. Greylin Investment Management Inc raised its holdings in Pfizer by 43.9% in the 1st quarter. Greylin Investment Management Inc now owns 249,672 shares of the biopharmaceutical company’s stock worth $6,928,000 after acquiring an additional 76,137 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Pfizer by 7.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,701,161 shares of the biopharmaceutical company’s stock worth $47,207,000 after acquiring an additional 111,509 shares during the last quarter. Krilogy Financial LLC raised its holdings in Pfizer by 5.6% in the 1st quarter. Krilogy Financial LLC now owns 25,191 shares of the biopharmaceutical company’s stock worth $699,000 after acquiring an additional 1,343 shares during the last quarter. Beddow Capital Management Inc. raised its stake in Pfizer by 22.5% during the 1st quarter. Beddow Capital Management Inc. now owns 153,885 shares of the biopharmaceutical company’s stock valued at $4,270,000 after buying an additional 28,224 shares during the last quarter. Finally, Patton Albertson Miller Group LLC raised its stake in Pfizer by 22.1% during the 1st quarter. Patton Albertson Miller Group LLC now owns 127,228 shares of the biopharmaceutical company’s stock valued at $3,531,000 after buying an additional 23,035 shares during the last quarter. 68.36% of the stock is currently owned by hedge funds and other 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.