Pfizer (NYSE:PFE) Stock Price Down 0.5% – Here’s Why

Pfizer Inc. (NYSE:PFE) was down 0.5% during trading on Tuesday . The stock traded as low as $26.61 and last traded at $26.66. Approximately 4,153,788 shares changed hands during trading, a decline of 86% from the average daily volume of 30,662,762 shares. The stock had previously closed at $26.80.

Analyst Ratings Changes

A number of research firms recently issued reports on PFE. Sanford C. Bernstein assumed coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective on the stock. UBS Group decreased their target price on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Truist Financial cut their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Citigroup started coverage on Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective on the stock. Finally, Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and an average target price of $32.00.

Pfizer Stock Down 1.2 %

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 stock has a market capitalization of $150.01 billion, a P/E ratio of 35.77, a PEG ratio of 0.63 and a beta of 0.64. The company has a fifty day moving average price of $26.16 and a 200-day moving average price of $28.04.

Pfizer (NYSE:PFE) last posted 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. The firm had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.17) EPS. As a group, research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be given a $0.43 dividend. The ex-dividend date is Friday, January 24th. This represents a $1.72 annualized dividend and a yield of 6.50%. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is currently 232.43%.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were purchased 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 owns 10,000 shares in the company, valued at $282,400. This represents a 11.11 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at 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 made changes to their positions in the company. Gladius Capital Management LP boosted its position in Pfizer by 102.8% during the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 38,015 shares in the last quarter. Quarry LP purchased a new stake in Pfizer during the second quarter valued at approximately $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in Pfizer in the third quarter valued at approximately $35,000. Joseph Group Capital Management grew its holdings in Pfizer by 168.3% in the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 771 shares during the last quarter. Finally, Kennebec Savings Bank purchased a new stake in shares of Pfizer during the 3rd quarter valued at $50,000. Institutional investors 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.