Pfizer (NYSE:PFE) Stock Price Down 1.4% – Here’s Why

Pfizer Inc. (NYSE:PFE) shares fell 1.4% during trading on Monday . The company traded as low as $25.73 and last traded at $25.84. 13,655,020 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 38,322,273 shares. The stock had previously closed at $26.21.

Analyst Ratings Changes

PFE has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Citigroup assumed coverage on Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target for the company. Finally, Wolfe Research assumed coverage on Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.92.

Pfizer Trading Down 1.5 %

The company has a 50-day moving average price of $27.83 and a 200 day moving average price of $28.49. The stock has a market capitalization of $146.27 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 0.71 and a beta of 0.67. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last posted its earnings results 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 company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.17) earnings per share. On average, research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.51%. Pfizer’s payout ratio is 227.03%.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pfizer

A number of hedge funds have recently bought and sold shares of PFE. Charles Schwab Investment Management Inc. boosted its stake in shares of Pfizer by 11.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after acquiring an additional 12,864,343 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Pfizer by 279.3% in the 2nd 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Pfizer by 22.4% during 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 worth $1,101,713,000 after buying an additional 6,977,587 shares during the period. International Assets Investment Management LLC purchased a new stake in Pfizer during the 3rd quarter worth about $146,481,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Pfizer by 164.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company’s stock valued at $211,737,000 after acquiring an additional 4,546,809 shares in 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.