Pfizer (NYSE:PFE) Stock Price Down 0.9% – Here’s Why

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

Analysts Set New Price Targets

PFE has been the subject of a number of research analyst reports. Bank of America reissued a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. Evercore ISI raised Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Citigroup assumed coverage on Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price for the company. Truist Financial reduced their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. One equities 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.00.

Pfizer Stock Performance

The business’s fifty day moving average price is $26.09 and its 200-day moving average price is $27.97. 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 has a market capitalization of $148.77 billion, a PE ratio of 35.47, a P/E/G ratio of 0.63 and a beta of 0.64.

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

Pfizer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 6.55%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. Pfizer’s payout ratio is presently 227.03%.

Insider Transactions at Pfizer

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 11.11 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Retirement Wealth Solutions LLC purchased a new stake in shares of Pfizer during the 4th quarter valued at about $26,000. Gladius Capital Management LP increased its position in shares of Pfizer by 102.8% during the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 38,015 shares during the period. Quarry LP purchased a new position in shares of Pfizer during the second quarter worth approximately $31,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Pfizer during the third quarter worth approximately $35,000. Finally, Joseph Group Capital Management boosted its stake in shares of Pfizer by 168.3% during the third 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 in the last quarter. 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.