Pfizer (NYSE:PFE) Trading Down 0.1% – Here’s What Happened

Pfizer Inc. (NYSE:PFE) shares dropped 0.1% during trading on Thursday . The company traded as low as $25.96 and last traded at $26.20. Approximately 8,481,401 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 31,155,053 shares. The stock had previously closed at $26.22.

Analysts Set New Price Targets

Several analysts recently commented on PFE shares. Citigroup started coverage on Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price on the stock. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. UBS Group lowered their price target on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Wolfe Research initiated coverage on shares of Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 price target on the stock. Finally, Truist Financial decreased their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Pfizer Stock Performance

The company has a market cap of $149.06 billion, a price-to-earnings ratio of 35.55, a PEG ratio of 0.64 and a beta of 0.64. The firm’s 50 day simple moving average is $26.09 and its 200-day simple moving average is $28.00. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

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. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period in the previous year, the business posted ($0.17) earnings per share. Pfizer’s quarterly revenue was up 31.2% on a year-over-year basis. On average, sell-side analysts predict that Pfizer Inc. will post 2.94 EPS for the current year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be given a dividend of $0.43 per share. This is an increase from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a yield of 6.54%. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Insider Buying and Selling at Pfizer

In other news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $282,400. The trade was a 11.11 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pfizer

A number of institutional investors have recently bought and sold shares of PFE. Retirement Wealth Solutions LLC purchased a new position in shares of Pfizer during the 4th quarter worth $26,000. Gladius Capital Management LP raised its position 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 purchasing an additional 38,015 shares during the period. Quarry LP acquired a new position in Pfizer during the second quarter worth $31,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Pfizer during the third quarter worth $35,000. Finally, Joseph Group Capital Management grew its stake 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 valued at $36,000 after buying an additional 771 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

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.