Pfizer (NYSE:PFE) Stock Price Down 0.6% Following Analyst Downgrade

Pfizer Inc. (NYSE:PFEGet Free Report)’s share price traded down 0.6% during trading on Tuesday after Citigroup lowered their price target on the stock from $30.00 to $29.00. Citigroup currently has a neutral rating on the stock. Pfizer traded as low as $26.49 and last traded at $26.70. 12,423,858 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 34,381,949 shares. The stock had previously closed at $26.86.

A number of other equities analysts have also commented on the stock. StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. Wolfe Research assumed coverage on shares of Pfizer in a research note on Friday, November 15th. They set an “underperform” rating and a $25.00 target price for the company. Truist Financial decreased their target price on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Finally, Guggenheim decreased their target price on shares of 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, eight have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.92.

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Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Retirement Wealth Solutions LLC acquired a new stake in shares of Pfizer during the 4th quarter valued at about $26,000. Gladius Capital Management LP boosted its position in shares of Pfizer by 102.8% during the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 38,015 shares in the last quarter. Quarry LP acquired a new stake in shares of Pfizer during the 2nd quarter valued at about $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Pfizer during the 3rd quarter valued at about $35,000. Finally, Joseph Group Capital Management boosted its position in shares of Pfizer by 168.3% during the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 771 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The firm’s 50-day moving average price is $26.18 and its two-hundred day moving average price is $27.91. The firm has a market capitalization of $151.00 billion, a price-to-earnings ratio of 36.01, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFEGet Free Report) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating 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%. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.17) earnings per share. Sell-side analysts predict that Pfizer Inc. will post 2.94 earnings per share for the current year.

Pfizer Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend 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 yield of 6.46%. Pfizer’s payout ratio is 227.03%.

Pfizer Company Profile

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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.

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