Pfizer (NYSE:PFE) Trading Down 1% – Here’s Why

Pfizer Inc. (NYSE:PFE) dropped 1% during trading on Thursday . The company traded as low as $26.42 and last traded at $26.45. Approximately 7,268,117 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 37,639,219 shares. The stock had previously closed at $26.72.

Analysts Set New Price Targets

A number of brokerages have recently commented on PFE. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Barclays lifted their target price on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. StockNews.com raised Pfizer from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Stock Down 1.1 %

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 business has a fifty day simple moving average of $28.76 and a two-hundred day simple moving average of $28.67. The company has a market cap of $149.78 billion, a PE ratio of 35.74, a price-to-earnings-growth ratio of 0.83 and a beta of 0.67.

Pfizer (NYSE:PFE) last posted 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 firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.17) earnings per share. As a group, equities research analysts predict that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 6.36%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Insider Activity

In related news, Director Scott Gottlieb acquired 1,000 shares of Pfizer stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $282,400. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new stake in shares of Pfizer during the second quarter worth about $25,000. Gladius Capital Management LP lifted its position in Pfizer by 102.8% during the 3rd 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. MFA Wealth Advisors LLC purchased a new position in shares of Pfizer in the 2nd quarter valued at approximately $29,000. Quarry LP acquired a new position in shares of Pfizer in the second quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Pfizer during the second quarter worth approximately $34,000. Institutional investors and hedge funds 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.