Pfizer (NYSE:PFE) Shares Down 0.5% – Here’s What Happened

Pfizer Inc. (NYSE:PFE)’s share price dropped 0.5% during trading on Thursday . The stock traded as low as $26.03 and last traded at $26.08. Approximately 5,951,264 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 35,729,042 shares. The stock had previously closed at $26.21.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Truist Financial reduced their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Citigroup cut their price objective on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Bank of America restated a “neutral” rating and set a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. Finally, Guggenheim restated a “buy” rating on shares of Pfizer in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.92.

Pfizer Stock Down 0.3 %

The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The firm’s fifty day moving average is $26.19 and its 200 day moving average is $27.08. The stock has a market cap of $148.06 billion, a P/E ratio of 18.53, a P/E/G ratio of 0.64 and a beta of 0.61.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. The firm had revenue of $17.76 billion during the quarter, compared to the consensus estimate of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business’s revenue was up 24.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 EPS. As a group, equities research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.

Insider Transactions at Pfizer

In related news, Director Ronald E. Blaylock purchased 19,457 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average price of $25.65 per share, with a total value of $499,072.05. Following the completion of the acquisition, the director now directly owns 27,707 shares in the company, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Pfizer during the 4th quarter worth about $2,328,986,000. Charles Schwab Investment Management Inc. grew its stake in Pfizer by 19.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock valued at $4,124,330,000 after purchasing an additional 25,315,159 shares in the last quarter. Starboard Value LP acquired a new position in shares of Pfizer during the 4th quarter worth approximately $407,730,000. Raymond James Financial Inc. bought a new position in shares of Pfizer in the fourth quarter valued at $274,694,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Pfizer by 22.4% during the third 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 last quarter. Institutional investors and hedge funds 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.