Pfizer (NYSE:PFE) Stock Price Down 0.4% – What’s Next?

Pfizer Inc. (NYSE:PFE) traded down 0.4% on Friday . The company traded as low as $29.08 and last traded at $29.16. 5,920,972 shares traded hands during trading, a decline of 84% from the average session volume of 37,016,414 shares. The stock had previously closed at $29.27.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PFE. Wells Fargo & Company upped their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Thursday, October 3rd. Sanford C. Bernstein assumed coverage on shares of Pfizer in a research note on Thursday. They issued a “market perform” rating and a $32.00 price objective for the company. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Seven 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.91.

Pfizer Price Performance

The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The business has a 50-day simple moving average of $29.05 and a 200 day simple moving average of $28.42. The firm has a market cap of $165.29 billion, a P/E ratio of -486.00, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (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 analysts’ expectations of $12.96 billion. During the same quarter in the previous year, the company earned $0.67 earnings per share. Pfizer’s quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is -2,800.00%.

Hedge Funds Weigh In On Pfizer

Hedge funds have recently bought and sold shares of the company. Olistico Wealth LLC purchased a new stake in shares of Pfizer during the second quarter valued at approximately $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Pfizer in the 2nd quarter worth $29,000. Quarry LP purchased a new position in shares of Pfizer in the second quarter worth $31,000. Trivant Custom Portfolio Group LLC lifted its holdings in shares of Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. bought a new stake in Pfizer in the 2nd quarter worth about $34,000. Institutional investors own 68.36% of the company’s stock.

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.