Pfizer (NYSE:PFE) Trading Down 1.1% – Here’s Why

Shares of Pfizer Inc. (NYSE:PFE) were down 1.1% on Monday . The company traded as low as $26.24 and last traded at $26.32. Approximately 7,071,226 shares changed hands during trading, a decline of 82% from the average daily volume of 38,767,668 shares. The stock had previously closed at $26.62.

Analysts Set New Price Targets

Several research analysts recently weighed in on PFE shares. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. Wolfe Research assumed coverage on Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price on the stock. Finally, Guggenheim cut their price target on Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $32.14.

Pfizer Trading Down 0.5 %

The company’s fifty day moving average is $26.55 and its 200-day moving average is $28.11. 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 firm has a market capitalization of $150.18 billion, a P/E ratio of 35.81, a P/E/G ratio of 0.63 and a beta of 0.65.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) 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 company had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same period last year, the business posted ($0.17) earnings per share. The firm’s revenue was up 31.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be issued 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 dividend on an annualized basis and a dividend yield of 6.49%. Pfizer’s payout ratio is 232.43%.

Insider Activity

In related news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pfizer

Several large investors have recently added to or reduced their stakes in PFE. Birmingham Capital Management Co. Inc. AL raised its stake in shares of Pfizer by 2.7% in the third quarter. Birmingham Capital Management Co. Inc. AL now owns 186,650 shares of the biopharmaceutical company’s stock valued at $5,402,000 after purchasing an additional 4,887 shares in the last quarter. Copley Financial Group Inc. acquired a new position in shares of Pfizer in the 3rd quarter valued at $577,000. Logan Capital Management Inc. lifted its holdings in shares of Pfizer by 2.7% during the 3rd quarter. Logan Capital Management Inc. now owns 580,545 shares of the biopharmaceutical company’s stock worth $16,801,000 after acquiring an additional 15,160 shares during the period. Inspire Trust Co. N.A. boosted its position in shares of Pfizer by 19.1% during the 3rd quarter. Inspire Trust Co. N.A. now owns 92,708 shares of the biopharmaceutical company’s stock valued at $2,683,000 after acquiring an additional 14,891 shares in the last quarter. Finally, Peapack Gladstone Financial Corp increased its stake in Pfizer by 23.9% in the third quarter. Peapack Gladstone Financial Corp now owns 762,976 shares of the biopharmaceutical company’s stock valued at $22,082,000 after acquiring an additional 147,405 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Company Profile

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.