Pfizer (NYSE:PFE) Trading Down 0.4% – What’s Next?

Pfizer Inc. (NYSE:PFE) fell 0.4% on Tuesday . The company traded as low as $26.13 and last traded at $26.14. 15,552,259 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 37,534,734 shares. The stock had previously closed at $26.24.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PFE. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. UBS Group increased their price objective on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Citigroup started coverage on shares of Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective for the company. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Trading Down 2.6 %

The company’s 50 day moving average price is $28.76 and its 200 day moving average price is $28.67. The firm has a market cap of $147.46 billion, a PE ratio of 35.74, a price-to-earnings-growth ratio of 0.83 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE) last announced its 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. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same period in the previous year, the company posted ($0.17) EPS. The company’s quarterly revenue was up 31.2% on a year-over-year basis. As a group, analysts forecast that Pfizer Inc. will post 2.96 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.46%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio is currently 227.03%.

Insider Transactions at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 11.11 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

Several hedge funds have recently bought and sold shares of PFE. Fred Alger Management LLC grew its holdings in Pfizer by 7.4% in the 3rd quarter. Fred Alger Management LLC now owns 102,668 shares of the biopharmaceutical company’s stock valued at $2,971,000 after buying an additional 7,076 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in Pfizer by 2.0% in the third quarter. Rockefeller Capital Management L.P. now owns 1,630,089 shares of the biopharmaceutical company’s stock valued at $47,169,000 after acquiring an additional 32,524 shares during the period. Northwest & Ethical Investments L.P. boosted its position in shares of Pfizer by 3.0% during the third quarter. Northwest & Ethical Investments L.P. now owns 263,531 shares of the biopharmaceutical company’s stock worth $7,627,000 after buying an additional 7,799 shares during the period. Teachers Insurance & Annuity Association of America bought a new stake in Pfizer during the third quarter worth about $35,000. Finally, Vinva Investment Management Ltd raised its holdings in Pfizer by 312.5% during the third quarter. Vinva Investment Management Ltd now owns 193,465 shares of the biopharmaceutical company’s stock worth $5,628,000 after acquiring an additional 146,564 shares in the last quarter. 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.