Pfizer (NYSE:PFE) Trading Down 1.4% – Should You Sell?

Pfizer Inc. (NYSE:PFE)’s share price traded down 1.4% during mid-day trading on Thursday . The company traded as low as $29.28 and last traded at $29.76. 11,269,292 shares were traded during mid-day trading, a decline of 70% from the average session volume of 37,315,820 shares. The stock had previously closed at $30.19.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PFE. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Thursday, October 3rd. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Barclays raised their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Price Performance

The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The stock has a market capitalization of $165.18 billion, a PE ratio of -485.83, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67. The stock’s 50 day moving average is $29.04 and its two-hundred day moving average is $28.38.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same quarter last year, the firm posted $0.67 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 annualized dividend and a yield of 5.76%. Pfizer’s dividend payout ratio is presently -2,800.00%.

Hedge Funds Weigh In On Pfizer

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Olistico Wealth LLC purchased a new position in shares of Pfizer during the 2nd quarter worth $25,000. MFA Wealth Advisors LLC purchased a new position in Pfizer during the second quarter worth about $29,000. Quarry LP purchased a new stake in shares of Pfizer in the 2nd quarter valued at approximately $31,000. Creekmur Asset Management LLC acquired a new position in shares of Pfizer in the 4th quarter worth approximately $32,000. Finally, Trivant Custom Portfolio Group LLC increased its holdings in Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

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.