Pfizer (NYSE:PFE) Stock Price Down 0.4% on Analyst Downgrade

Pfizer Inc. (NYSE:PFE) was down 0.4% during trading on Wednesday after Truist Financial lowered their price target on the stock from $36.00 to $32.00. Truist Financial currently has a buy rating on the stock. Pfizer traded as low as $26.12 and last traded at $26.32. Approximately 8,655,838 shares were traded during trading, a decline of 78% from the average daily volume of 38,507,656 shares. The stock had previously closed at $26.43.

PFE has been the topic of several other reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. Wolfe Research initiated coverage on Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price on the stock. Citigroup started coverage on Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price on the stock. Evercore ISI raised Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Bank of America reiterated a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.14.

Insider Activity

In other news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction dated 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Pfizer by 11.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock valued at $3,766,366,000 after acquiring an additional 12,864,343 shares during the last quarter. Marshall Wace LLP lifted its position in Pfizer by 279.3% during the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after purchasing an additional 8,378,173 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Pfizer by 22.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after buying an additional 6,977,587 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Pfizer in the 3rd quarter worth about $146,481,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Pfizer by 164.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company’s stock valued at $211,737,000 after buying an additional 4,546,809 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Trading Down 0.5 %

The stock’s fifty day moving average is $26.88 and its 200 day moving average is $28.20. 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 stock has a market cap of $146.04 billion, a P/E ratio of 34.82, a P/E/G ratio of 0.63 and a beta of 0.65.

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

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.67%. The ex-dividend date is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is 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.