Pfizer (NYSE:PFE) Trading Down 1.7% – Here’s What Happened

Pfizer Inc. (NYSE:PFE) shares were down 1.7% on Tuesday . The stock traded as low as $25.60 and last traded at $25.76. Approximately 25,723,624 shares traded hands during trading, a decline of 28% from the average daily volume of 35,757,676 shares. The stock had previously closed at $26.20.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PFE shares. Citigroup dropped their target price on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. Truist Financial dropped their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Guggenheim reduced their price objective on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, Wolfe Research assumed coverage on shares of Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Price Performance

The company has a market capitalization of $146.35 billion, a P/E ratio of 34.90, a price-to-earnings-growth ratio of 0.66 and a beta of 0.64. 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’s 50-day moving average is $26.29 and its 200-day moving average is $27.78.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.48 by $0.15. The firm had revenue of $17.76 billion during the quarter, compared to analyst estimates of $17.26 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. Pfizer’s revenue was up 24.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 EPS. Analysts predict that Pfizer Inc. will post 2.96 EPS for the current fiscal year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.66%. Pfizer’s payout ratio is 232.44%.

Hedge Funds Weigh In On Pfizer

Several large investors have recently added to or reduced their stakes in the company. Wells Trecaso Financial Group LLC raised its holdings in Pfizer by 2.5% during the third quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after acquiring an additional 350 shares during the period. Washington Trust Advisors Inc. lifted its holdings in Pfizer by 0.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock worth $1,424,000 after purchasing an additional 360 shares in the last quarter. PSI Advisors LLC boosted its stake in Pfizer by 1.4% in the 4th quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company’s stock worth $738,000 after purchasing an additional 385 shares during the period. Western Pacific Wealth Management LP grew its holdings in Pfizer by 10.5% during the 3rd quarter. Western Pacific Wealth Management LP now owns 4,073 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 386 shares in the last quarter. Finally, Waddell & Associates LLC raised its position in shares of Pfizer by 1.6% during the third quarter. Waddell & Associates LLC now owns 24,978 shares of the biopharmaceutical company’s stock valued at $723,000 after buying an additional 388 shares during the last quarter. 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.