Pfizer (NYSE:PFE) Stock Price Down 0.6% – What’s Next?

Pfizer Inc. (NYSE:PFE)’s stock price dropped 0.6% during mid-day trading on Monday . The company traded as low as $27.82 and last traded at $27.93. Approximately 10,485,709 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 37,134,770 shares. The stock had previously closed at $28.09.

Wall Street Analysts Forecast Growth

PFE has been the subject of a number of recent analyst reports. Sanford C. Bernstein initiated coverage on Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Citigroup began coverage on Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price on the stock. Barclays boosted their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company boosted their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Stock Down 1.0 %

The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The firm’s 50-day moving average price is $29.03 and its 200 day moving average price is $28.62. The firm has a market cap of $157.53 billion, a P/E ratio of 37.74, a PEG ratio of 0.90 and a beta of 0.67.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.40% 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 company earned ($0.17) earnings per share. On average, equities research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 6.04%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

Large investors have recently bought and sold shares of the business. FAS Wealth Partners Inc. lifted its position in Pfizer by 1.3% during the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after acquiring an additional 342 shares during the last quarter. Sachetta LLC raised its position in shares of Pfizer by 7.3% during the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock valued at $140,000 after buying an additional 342 shares during the last quarter. Wells Trecaso Financial Group LLC raised its position in shares of 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 buying an additional 350 shares during the last quarter. Ironvine Capital Partners LLC raised its position in shares of Pfizer by 2.1% during the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock valued at $470,000 after buying an additional 353 shares during the last quarter. Finally, Secure Asset Management LLC raised its position in shares of Pfizer by 0.6% during the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock valued at $1,632,000 after buying an additional 353 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

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.