Pfizer (NYSE:PFE) Shares Down 0.6% – Here’s What Happened

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

Wall Street Analyst Weigh In

PFE has been the subject of several analyst reports. Citigroup assumed coverage on shares of Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target for the company. Bank of America reiterated a “neutral” rating and set a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Finally, Sanford C. Bernstein began 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Pfizer Stock Performance

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

Pfizer (NYSE:PFE) last posted its earnings results 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 company had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.17) earnings per share. As a group, research analysts forecast that Pfizer Inc. will post 2.94 EPS for the current year.

Pfizer Increases Dividend

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

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

Several institutional investors and hedge funds have recently bought and sold shares of the company. Retirement Wealth Solutions LLC acquired a new position in shares of Pfizer in the 4th quarter valued at approximately $26,000. Gladius Capital Management LP increased its stake in 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 acquiring an additional 38,015 shares during the last quarter. Quarry LP acquired a new position in Pfizer during the second quarter valued at approximately $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Pfizer in the 3rd quarter valued at $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 purchasing an additional 771 shares during the last quarter. Institutional investors 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.