Pfizer (NYSE:PFE) Stock Price Down 0.2% – What’s Next?

Pfizer Inc. (NYSE:PFE)’s stock price fell 0.2% during mid-day trading on Monday . The stock traded as low as $26.19 and last traded at $26.32. 7,639,419 shares were traded during trading, a decline of 80% from the average session volume of 38,904,668 shares. The stock had previously closed at $26.36.

Wall Street Analyst Weigh In

PFE has been the topic of several recent analyst reports. Bank of America reiterated a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Wolfe Research assumed coverage on shares of Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target on the stock. Guggenheim decreased their price objective on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Finally, Sanford C. Bernstein initiated coverage on shares of Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and a consensus target price of $32.14.

Pfizer Price Performance

The firm has a market capitalization of $150.35 billion, a PE ratio of 35.85, a P/E/G ratio of 0.63 and a beta of 0.65. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The stock has a fifty day moving average price of $26.82 and a 200-day moving average price of $28.17.

Pfizer (NYSE:PFE) last posted its 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. The company had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. Sell-side analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be given a dividend of $0.43 per share. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a yield of 6.48%. Pfizer’s dividend payout ratio is presently 232.43%.

Insiders Place Their Bets

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was 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 owns 10,000 shares in the company, valued at $282,400. This represents a 11.11 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

Several hedge funds and other institutional investors have recently modified their holdings of PFE. Charles Schwab Investment Management Inc. increased its stake in Pfizer by 11.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock valued at $3,766,366,000 after purchasing an additional 12,864,343 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Pfizer by 279.3% during the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after buying an additional 8,378,173 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Pfizer by 22.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock valued at $1,101,713,000 after acquiring an additional 6,977,587 shares during the period. International Assets Investment Management LLC purchased a new position in Pfizer in the 3rd quarter worth $146,481,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Pfizer by 164.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company’s stock worth $211,737,000 after acquiring an additional 4,546,809 shares during the period. 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.