Pfizer (NYSE:PFE) Shares Down 0.6% on Analyst Downgrade

Pfizer Inc. (NYSE:PFE) shares traded down 0.6% on Tuesday after Citigroup lowered their price target on the stock from $30.00 to $29.00. Citigroup currently has a neutral rating on the stock. Pfizer traded as low as $26.49 and last traded at $26.70. 12,423,858 shares were traded during mid-day trading, a decline of 64% from the average session volume of 34,381,949 shares. The stock had previously closed at $26.86.

Other analysts also recently issued reports about the company. Sanford C. Bernstein initiated coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target for the company. Truist Financial cut their target price on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Wolfe Research started coverage on Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target on the stock. UBS Group dropped their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Bank of America reiterated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and a consensus price target of $31.92.

Insider Buying and Selling

In related news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 11.11 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by company insiders.

Institutional Trading of Pfizer

Institutional investors have recently made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Pfizer during the fourth quarter valued at approximately $26,000. Gladius Capital Management LP grew its holdings in Pfizer by 102.8% during the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 38,015 shares during the period. Quarry LP bought a new position in shares of Pfizer during the 2nd quarter worth $31,000. Teachers Insurance & Annuity Association of America bought a new stake in Pfizer in the 3rd quarter valued at about $35,000. Finally, Joseph Group Capital Management lifted its holdings in 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 during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

The business’s 50-day simple moving average is $26.15 and its two-hundred day simple moving average is $27.92. 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 $151.27 billion, a P/E ratio of 36.07, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64.

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

Pfizer Increases Dividend

The business also recently announced 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. The ex-dividend date is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.44%. Pfizer’s payout ratio is presently 227.03%.

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.