Pfizer (NYSE:PFE) Stock Price Down 0.8% on Analyst Downgrade

Pfizer Inc. (NYSE:PFE)’s share price fell 0.8% during trading on Thursday after UBS Group lowered their price target on the stock from $31.00 to $29.00. UBS Group currently has a neutral rating on the stock. Pfizer traded as low as $26.23 and last traded at $26.92. 35,409,555 shares traded hands during mid-day trading, a decline of 2% from the average session volume of 36,075,523 shares. The stock had previously closed at $27.13.

A number of other research analysts also recently commented on the stock. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Wolfe Research started coverage on Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 price objective on the stock. Guggenheim reduced their target price on Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Truist Financial dropped their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Finally, Bank of America reaffirmed a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Insider Buying and Selling

In other news, Director Scott Gottlieb acquired 1,000 shares of Pfizer stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

Several institutional investors and hedge funds have recently added to or reduced their stakes in PFE. Gladius Capital Management LP boosted its stake in shares of 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 buying an additional 38,015 shares in the last quarter. Quarry LP purchased a new stake in shares of Pfizer during the 2nd quarter worth $31,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Pfizer during the 3rd quarter worth $35,000. Joseph Group Capital Management increased its holdings in shares of Pfizer by 168.3% in the 3rd 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 in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Pfizer in the second quarter valued at about $38,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Trading Down 0.8 %

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 business’s fifty day moving average is $26.21 and its 200 day moving average is $28.05. The stock has a market cap of $152.56 billion, a PE ratio of 36.38, a P/E/G ratio of 0.63 and a beta of 0.64.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.42. The firm had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. Pfizer’s revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.17) earnings per share. As a group, analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The firm 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 of this dividend is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a yield of 6.39%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s payout ratio is presently 232.43%.

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.