Pfizer (NYSE:PFE) Shares Down 0.2% – What’s Next?

Pfizer Inc. (NYSE:PFE)’s share price traded down 0.2% during mid-day trading on Friday . The company traded as low as $26.52 and last traded at $26.57. 5,717,203 shares changed hands during trading, a decline of 70% from the average session volume of 18,795,836 shares. The stock had previously closed at $26.61.

Wall Street Analysts Forecast Growth

PFE has been the subject of several analyst reports. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Truist Financial lowered their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Guggenheim cut 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. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Finally, Bank of America reiterated a “neutral” rating and set a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, nine 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.14.

Pfizer Price Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm has a market cap of $151.14 billion, a P/E ratio of 36.04, a PEG ratio of 0.63 and a beta of 0.65. The company’s 50-day moving average is $26.37 and its two-hundred day moving average is $28.07.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the previous year, the business earned ($0.17) earnings per share. The company’s revenue was up 31.2% on a year-over-year basis. Sell-side analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal 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 paid a dividend of $0.43 per share. This is an increase from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. This represents a $1.72 annualized dividend and a yield of 6.45%. Pfizer’s payout ratio is presently 232.43%.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average cost 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 of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pfizer

Several hedge funds have recently added to or reduced their stakes in the business. Gladius Capital Management LP lifted 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 worth $30,000 after acquiring an additional 38,015 shares during the period. Quarry LP bought a new stake in shares of Pfizer in the 2nd quarter valued at $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Pfizer during the third quarter worth $35,000. Joseph Group Capital Management raised its stake in Pfizer by 168.3% during the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 771 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in Pfizer in the second quarter valued at $38,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.