Pfizer (NYSE:PFE) Trading Down 0.7% – What’s Next?

Pfizer Inc. (NYSE:PFE)’s share price dropped 0.7% during mid-day trading on Wednesday . The stock traded as low as $28.19 and last traded at $28.26. Approximately 13,116,017 shares changed hands during trading, a decline of 65% from the average daily volume of 37,053,098 shares. The stock had previously closed at $28.46.

Analysts Set New Price Targets

Several research firms have recently commented on PFE. Citigroup initiated coverage on shares of Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target for the company. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a report on Wednesday. Wells Fargo & Company lifted their price target on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Barclays upped their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Pfizer has a consensus rating of “Moderate Buy” and a consensus target price of $33.58.

Pfizer Price Performance

The firm has a market cap of $159.80 billion, a PE ratio of 38.38, a price-to-earnings-growth ratio of 0.90 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The stock’s fifty day moving average price is $29.05 and its 200-day moving average price is $28.56.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.40% and a net margin of 7.07%. The business’s revenue was up 31.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.17) earnings per share. As a group, equities analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.96%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is presently 227.03%.

Insider Buying and Selling

In related news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

Hedge funds have recently made changes to their positions in the stock. Olistico Wealth LLC acquired a new stake in shares of Pfizer in the second quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Pfizer in the second quarter valued at approximately $29,000. Quarry LP acquired a new position in shares of Pfizer in the second quarter valued at approximately $31,000. Financial Connections Group Inc. purchased a new stake in Pfizer during the 2nd quarter worth approximately $34,000. Finally, ESL Trust Services LLC acquired a new stake in Pfizer during the 1st quarter worth approximately $37,000. Hedge funds and other 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.