Pfizer (NYSE:PFE) Shares Down 2.3%

Pfizer Inc. (NYSE:PFEGet Free Report)’s share price dropped 2.3% on Thursday . The company traded as low as $28.79 and last traded at $28.91. Approximately 13,841,966 shares were traded during trading, a decline of 67% from the average daily volume of 42,272,527 shares. The stock had previously closed at $29.60.

Wall Street Analysts Forecast Growth

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

View Our Latest Analysis on PFE

Pfizer Stock Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78. The company’s 50-day moving average price is $27.24 and its two-hundred day moving average price is $27.97. The company has a market capitalization of $163.25 billion, a price-to-earnings ratio of -480.75, a PEG ratio of 1.11 and a beta of 0.63.

Pfizer (NYSE:PFEGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The company had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the prior year, the company posted $1.23 earnings per share. Pfizer’s revenue for the quarter was down 19.5% compared to the same quarter last year. On average, equities research analysts anticipate that Pfizer Inc. will post 2.39 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Institutional Investors Weigh In On Pfizer

A number of large investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake 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 buying an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Pfizer by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after buying an additional 8,473,686 shares in the last quarter. Morgan Stanley lifted its stake in shares of Pfizer by 0.4% in the third 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 in the last quarter. Norges Bank bought a new position in shares of Pfizer in the fourth quarter valued at $2,129,927,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of 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 valued at $1,972,300,000 after buying an additional 8,298,920 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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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