Pfizer (NYSE:PFE) Shares Down 0.7% – Here’s Why

Pfizer Inc. (NYSE:PFE)’s stock price traded down 0.7% during trading on Monday . The stock traded as low as $26.15 and last traded at $26.34. 13,749,002 shares were traded during mid-day trading, a decline of 60% from the average session volume of 34,791,273 shares. The stock had previously closed at $26.52.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PFE. UBS Group cut their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Sanford C. Bernstein assumed coverage on shares of Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target on the stock. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Finally, Truist Financial reduced their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Stock Down 1.1 %

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 company has a market cap of $148.62 billion, a P/E ratio of 35.44, a P/E/G ratio of 0.66 and a beta of 0.64. The business’s 50 day moving average is $26.27 and its 200 day moving average is $27.85.

Pfizer Increases Dividend

The company also recently declared 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 is a boost from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is currently 232.44%.

Institutional Investors Weigh In On Pfizer

Hedge funds and other institutional investors have recently bought and sold shares of the company. Retirement Wealth Solutions LLC acquired a new position in shares of Pfizer during the fourth quarter worth $26,000. Gladius Capital Management LP grew its stake in shares of Pfizer by 102.8% during 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 last quarter. Quarry LP purchased a new position in shares of Pfizer in the 2nd quarter valued at approximately $31,000. Teachers Insurance & Annuity Association of America purchased a new stake in Pfizer during the 3rd quarter worth approximately $35,000. Finally, Joseph Group Capital Management increased its stake in 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 purchasing an additional 771 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

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.