Pfizer (NYSE:PFE) Trading Down 1% – Time to Sell?

Pfizer Inc. (NYSE:PFE) fell 1% on Friday . The stock traded as low as $28.97 and last traded at $29.04. 9,959,925 shares were traded during trading, a decline of 73% from the average session volume of 37,283,508 shares. The stock had previously closed at $29.34.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PFE. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Thursday, October 3rd. UBS Group boosted their price objective on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, Barclays boosted their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Stock Down 1.0 %

The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The stock has a market cap of $164.61 billion, a PE ratio of -484.00, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67. The business has a fifty day moving average of $29.06 and a 200-day moving average of $28.37.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The firm had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. Pfizer’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 earnings per share. Equities research analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 5.78%. Pfizer’s dividend payout ratio is currently -2,800.00%.

Institutional Trading of Pfizer

A number of hedge funds have recently bought and sold shares of PFE. Brevan Howard Capital Management LP lifted its holdings in shares of Pfizer by 61.6% during the 4th quarter. Brevan Howard Capital Management LP now owns 43,091 shares of the biopharmaceutical company’s stock valued at $1,241,000 after purchasing an additional 16,422 shares during the last quarter. Bell Investment Advisors Inc increased its position in shares of Pfizer by 9.1% in the 4th quarter. Bell Investment Advisors Inc now owns 5,958 shares of the biopharmaceutical company’s stock valued at $172,000 after acquiring an additional 497 shares during the period. Bayesian Capital Management LP increased its position in shares of Pfizer by 57.0% in the 4th quarter. Bayesian Capital Management LP now owns 175,200 shares of the biopharmaceutical company’s stock valued at $5,044,000 after acquiring an additional 63,600 shares during the period. Bridgeway Capital Management LLC increased its position in shares of Pfizer by 26.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 466,252 shares of the biopharmaceutical company’s stock valued at $13,423,000 after acquiring an additional 96,185 shares during the period. Finally, Guardian Wealth Management Inc. increased its position in shares of Pfizer by 245.7% in the 4th quarter. Guardian Wealth Management Inc. now owns 2,247 shares of the biopharmaceutical company’s stock valued at $65,000 after acquiring an additional 1,597 shares during the period. Hedge funds and other 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.