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

Pfizer Inc. (NYSE:PFE)’s share price traded down 0.6% during mid-day trading on Monday . The stock traded as low as $26.36 and last traded at $26.55. 7,906,637 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 31,469,996 shares. The stock had previously closed at $26.72.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Wolfe Research began coverage on Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 target price for the company. UBS Group dropped their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Finally, Guggenheim cut their target price on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.00.

Pfizer Price Performance

The stock has a 50-day moving average price of $26.18 and a two-hundred day moving average price of $28.04. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The stock has a market cap of $151.03 billion, a price-to-earnings ratio of 36.01, a PEG ratio of 0.63 and a beta of 0.64.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company’s revenue was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. As a group, equities research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.45%. Pfizer’s payout ratio is 232.43%.

Insider Activity at Pfizer

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 11.11 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Pfizer

Institutional investors have recently modified their holdings of the stock. Gladius Capital Management LP lifted its holdings 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 period. Quarry LP purchased a new stake in Pfizer during the second quarter worth $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in Pfizer during the third quarter valued at $35,000. Joseph Group Capital Management raised its position in shares of Pfizer by 168.3% in the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 771 shares during the period. Finally, Kennebec Savings Bank purchased a new stake in shares of Pfizer during the 3rd quarter worth about $50,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

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.