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

Pfizer Inc. (NYSE:PFE)’s stock price fell 0.9% on Thursday . The stock traded as low as $26.01 and last traded at $26.19. 8,671,495 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 37,764,668 shares. The stock had previously closed at $26.42.

Analyst Ratings Changes

Several brokerages recently issued reports on PFE. Bank of America reissued a “neutral” rating and set a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Citigroup lowered their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. UBS Group lowered their price objective 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. Finally, Wolfe Research began coverage on shares of Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 target price for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and an average price target of $31.92.

Pfizer Price Performance

The stock has a market cap of $147.83 billion, a P/E ratio of 18.50, a P/E/G ratio of 0.64 and a beta of 0.64. The business has a 50 day simple moving average of $26.34 and a 200-day simple moving average of $27.36. 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 announced its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.48 by $0.15. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same quarter in the previous year, the firm posted $0.10 earnings per share. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, sell-side analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The company 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 $0.43 dividend. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.59%. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is currently 121.99%.

Insider Activity

In related news, Director Ronald E. Blaylock purchased 19,457 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was purchased at an average cost of $25.65 per share, with a total value of $499,072.05. Following the completion of the acquisition, the director now directly owns 27,707 shares of the company’s stock, valued at approximately $710,684.55. The trade was a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

A number of institutional investors and hedge funds have recently modified their holdings of the company. Retirement Wealth Solutions LLC purchased a new position in Pfizer during the fourth quarter worth about $26,000. Rialto Wealth Management LLC purchased a new position in shares of Pfizer during the fourth quarter worth about $26,000. Clarity Asset Management Inc. bought a new position in shares of Pfizer in the fourth quarter worth approximately $27,000. Gould Capital LLC raised its stake in Pfizer by 97.2% in the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 493 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Pfizer during the fourth quarter valued at approximately $28,000. 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.