Pfizer (NYSE:PFE) Trading Down 1% – Here’s What Happened

Pfizer Inc. (NYSE:PFE) traded down 1% during mid-day trading on Thursday . The stock traded as low as $26.42 and last traded at $26.45. 7,268,117 shares were traded during trading, a decline of 81% from the average session volume of 37,639,219 shares. The stock had previously closed at $26.72.

Wall Street Analyst Weigh In

A number of research firms have commented on PFE. Barclays raised their target price on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Citigroup initiated coverage on shares of Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price on the stock. Sanford C. Bernstein began coverage on Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $33.58.

Pfizer Stock Down 1.1 %

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 $149.78 billion, a P/E ratio of 35.74, a PEG ratio of 0.83 and a beta of 0.67. The firm’s 50-day moving average price is $28.76 and its 200 day moving average price is $28.67.

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 the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period in the prior year, the company posted ($0.17) EPS. The business’s revenue was up 31.2% compared to the same quarter last year. On average, equities research analysts expect that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 6.36%. Pfizer’s dividend payout ratio is presently 227.03%.

Insider Transactions at Pfizer

In other news, Director Scott Gottlieb purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $282,400. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PFE. Olistico Wealth LLC purchased a new stake in Pfizer in the 2nd quarter worth about $25,000. Gladius Capital Management LP boosted its holdings 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 purchasing an additional 38,015 shares during the period. MFA Wealth Advisors LLC purchased a new position in Pfizer during the second quarter valued at approximately $29,000. Quarry LP acquired a new position in Pfizer in the 2nd quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. purchased a new stake in Pfizer in the 2nd quarter worth approximately $34,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

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.