Pfizer (NYSE:PFE) Trading Down 0.6% – Here’s Why

Pfizer Inc. (NYSE:PFE)’s stock price dropped 0.6% during trading on Tuesday . The stock traded as low as $28.60 and last traded at $28.76. Approximately 9,072,826 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 36,902,449 shares. The stock had previously closed at $28.93.

Analysts Set New Price Targets

Several brokerages recently issued reports on PFE. Sanford C. Bernstein started coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Wednesday. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.91.

Pfizer Price Performance

The firm has a 50-day moving average of $29.07 and a 200-day moving average of $28.48. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The firm has a market capitalization of $163.54 billion, a P/E ratio of -481.00, a PEG ratio of 1.02 and a beta of 0.67.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. During the same period in the prior year, the company posted $0.67 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, analysts predict that Pfizer Inc. will post 2.66 EPS for the current 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 issued a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 5.82%. Pfizer’s payout ratio is -2,800.00%.

Institutional Investors Weigh In On Pfizer

Large investors have recently added to or reduced their stakes in the stock. Global Assets Advisory LLC purchased a new stake in shares of Pfizer during the 1st quarter valued at about $725,000. Atlas Capital Advisors LLC increased its stake in shares of Pfizer by 54.4% in the 1st quarter. Atlas Capital Advisors LLC now owns 1,702 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 600 shares in the last quarter. Sovereign Financial Group Inc. raised its holdings in Pfizer by 12.2% in the 1st quarter. Sovereign Financial Group Inc. now owns 16,929 shares of the biopharmaceutical company’s stock worth $470,000 after purchasing an additional 1,837 shares during the period. Wealthcare Advisory Partners LLC grew its holdings in Pfizer by 149.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 129,868 shares of the biopharmaceutical company’s stock valued at $3,604,000 after purchasing an additional 77,868 shares during the period. Finally, Edge Wealth Management LLC increased its position in Pfizer by 2.0% in the first quarter. Edge Wealth Management LLC now owns 260,180 shares of the biopharmaceutical company’s stock worth $7,220,000 after buying an additional 5,121 shares in the last quarter. 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.