Pfizer (NYSE:PFE) Trading Down 0.9% – Here’s What Happened

Pfizer Inc. (NYSE:PFE)’s stock price traded down 0.9% during trading on Wednesday . The stock traded as low as $26.26 and last traded at $26.40. 8,775,446 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 32,051,947 shares. The stock had previously closed at $26.64.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PFE shares. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Citigroup began coverage on Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target for the company. Guggenheim dropped their price objective on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Wednesday, October 23rd. Finally, UBS Group lowered their price target on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.00.

Pfizer Trading Down 1.3 %

The stock has a 50-day moving average of $26.08 and a 200 day moving average of $27.95. 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 stock has a market cap of $147.89 billion, a PE ratio of 35.27, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.64 by $0.42. The business had revenue of $17.70 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned ($0.17) EPS. As a group, sell-side analysts anticipate 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. Investors of record on Friday, January 24th will be given a dividend of $0.43 per share. This is a boost from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.59%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

Insider Transactions at Pfizer

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. The trade was a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Pfizer

Several institutional investors have recently bought and sold shares of PFE. Wells Trecaso Financial Group LLC raised its position in shares of Pfizer by 2.5% during the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock worth $416,000 after purchasing an additional 350 shares during the last quarter. Washington Trust Advisors Inc. raised its holdings in shares of Pfizer by 0.7% during the third quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock valued at $1,424,000 after acquiring an additional 360 shares during the last quarter. Cullen Investment Group LTD. lifted its position in shares of Pfizer by 0.9% in the third quarter. Cullen Investment Group LTD. now owns 42,677 shares of the biopharmaceutical company’s stock valued at $1,235,000 after acquiring an additional 377 shares in the last quarter. PSI Advisors LLC boosted its stake in shares of Pfizer by 1.4% in the fourth quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company’s stock worth $738,000 after acquiring an additional 385 shares during the last quarter. Finally, MidWestOne Financial Group Inc. increased its position in shares of Pfizer by 1.5% during the second quarter. MidWestOne Financial Group Inc. now owns 26,530 shares of the biopharmaceutical company’s stock worth $742,000 after purchasing an additional 386 shares in the last quarter. 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.