Pfizer (NYSE:PFE) Stock Price Down 0.9% Following Analyst Downgrade

Pfizer Inc. (NYSE:PFE)’s share price traded down 0.9% during trading on Wednesday after UBS Group lowered their price target on the stock from $31.00 to $29.00. UBS Group currently has a neutral rating on the stock. Pfizer traded as low as $26.23 and last traded at $26.88. 9,896,990 shares were traded during mid-day trading, a decline of 68% from the average session volume of 30,847,986 shares. The stock had previously closed at $27.13.

A number of other research analysts have also recently issued reports on the stock. Wolfe Research initiated coverage on shares of Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target for the company. Sanford C. Bernstein assumed coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Guggenheim cut their price objective on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Bank of America reiterated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. Finally, Truist Financial cut 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $32.00.

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 shares were bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

Several institutional investors and hedge funds have recently modified their holdings of the company. Gladius Capital Management LP grew its position in Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 38,015 shares in the last quarter. Quarry LP acquired a new stake in Pfizer during the 2nd quarter worth approximately $31,000. Teachers Insurance & Annuity Association of America purchased a new position in Pfizer in the third quarter valued at $35,000. Joseph Group Capital Management increased its position in shares of Pfizer by 168.3% in 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 during the last quarter. Finally, Kennebec Savings Bank acquired a new stake in shares of Pfizer in the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 0.9 %

The firm has a market capitalization of $152.33 billion, a PE ratio of 36.32, a PEG ratio of 0.63 and a beta of 0.64. The company’s 50-day moving average price is $26.27 and its 200-day moving average price is $28.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.17) EPS. On average, sell-side analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The firm also recently announced 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 represents a $1.72 dividend on an annualized basis and a dividend yield of 6.40%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s payout ratio is presently 232.43%.

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.