Pfizer (NYSE:PFE) Shares Up 1.2% – What’s Next?

Pfizer Inc. (NYSE:PFE) traded up 1.2% during mid-day trading on Tuesday . The company traded as high as $24.30 and last traded at $24.27. 10,021,471 shares traded hands during trading, a decline of 76% from the average session volume of 40,904,482 shares. The stock had previously closed at $23.97.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PFE. Cantor Fitzgerald initiated coverage on Pfizer in a report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 price objective on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $25.00 price target (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. UBS Group increased their target price on Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Citigroup reissued a “neutral” rating on shares of Pfizer in a research note on Thursday, March 27th. Finally, Hsbc Global Res raised Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and a consensus target price of $29.17.

Pfizer Trading Up 1.4%

The company has a market capitalization of $138.13 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 0.64 and a beta of 0.57. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company’s fifty day simple moving average is $22.93 and its two-hundred day simple moving average is $24.98.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. The firm had revenue of $13.72 billion during the quarter, compared to analysts’ expectations of $14.43 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company’s revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 earnings per share. Research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.08%. Pfizer’s payout ratio is presently 124.64%.

Hedge Funds Weigh In On Pfizer

A number of large investors have recently bought and sold shares of the company. First Hawaiian Bank grew its holdings in Pfizer by 6.9% during the first quarter. First Hawaiian Bank now owns 54,455 shares of the biopharmaceutical company’s stock worth $1,380,000 after purchasing an additional 3,531 shares during the period. Modern Wealth Management LLC raised its position in Pfizer by 41.4% in the 1st quarter. Modern Wealth Management LLC now owns 44,785 shares of the biopharmaceutical company’s stock valued at $1,135,000 after buying an additional 13,104 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Pfizer by 37.8% in the 1st quarter. Jones Financial Companies Lllp now owns 2,516,211 shares of the biopharmaceutical company’s stock worth $63,441,000 after purchasing an additional 690,259 shares during the period. Strs Ohio purchased a new stake in Pfizer in the 1st quarter worth about $49,968,000. Finally, Wealth Management Associates Inc. raised its stake in Pfizer by 10.2% in the 1st quarter. Wealth Management Associates Inc. now owns 54,720 shares of the biopharmaceutical company’s stock valued at $1,387,000 after acquiring an additional 5,053 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Company Profile

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.