Pfizer (NYSE:PFE) Stock Price Down 0.6% – Here’s Why

Pfizer Inc. (NYSE:PFE)’s stock price traded down 0.6% during trading on Friday . The company traded as low as $26.22 and last traded at $26.33. 9,563,980 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 31,057,445 shares. The stock had previously closed at $26.49.

Analyst Ratings Changes

A number of research firms have issued reports on PFE. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. UBS Group decreased their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Sanford C. Bernstein started coverage on Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price on the stock. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Finally, Wolfe Research initiated coverage on Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Pfizer Price Performance

The firm has a market cap of $148.96 billion, a price-to-earnings ratio of 35.53, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64. The stock’s 50-day moving average price is $26.11 and its 200 day moving average price is $28.01. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.42. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.17) EPS. Equities research analysts predict that Pfizer Inc. will post 2.94 earnings per share for the current year.

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.54%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio is 227.03%.

Insider Buying and Selling at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. The trade was a 11.11 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

Hedge funds and other institutional investors have recently bought and sold shares of the business. Retirement Wealth Solutions LLC acquired a new stake in Pfizer in the 4th quarter valued at about $26,000. Gladius Capital Management LP increased its holdings in shares of Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 38,015 shares in the last quarter. Quarry LP bought a new position in Pfizer in the 2nd quarter worth approximately $31,000. Teachers Insurance & Annuity Association of America acquired a new position in Pfizer during the 3rd quarter worth $35,000. Finally, Joseph Group Capital Management increased its stake in shares of Pfizer by 168.3% in the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 771 shares during the period. 68.36% of the stock is 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.