Pfizer (NYSE:PFE) Stock Price Down 0.7% – What’s Next?

Pfizer Inc. (NYSE:PFE) shares fell 0.7% on Monday . The company traded as low as $28.92 and last traded at $29.02. 6,301,429 shares traded hands during trading, a decline of 83% from the average session volume of 36,952,680 shares. The stock had previously closed at $29.22.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. UBS Group increased their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer presently has a consensus rating of “Moderate Buy” and an average target price of $33.91.

Pfizer Price Performance

The company has a fifty day simple moving average of $29.07 and a 200-day simple moving average of $28.48. The company has a market cap of $163.54 billion, a P/E ratio of -481.00, a PEG ratio of 1.02 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60.

Pfizer (NYSE:PFE) last released its quarterly earnings results 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 business had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same quarter last year, the company posted $0.67 EPS. Pfizer’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, sell-side analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Announces Dividend

The business 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 $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently -2,800.00%.

Institutional Trading of Pfizer

A number of institutional investors have recently bought and sold shares of the company. Olistico Wealth LLC purchased a new stake in shares of Pfizer during the 2nd quarter worth about $25,000. MFA Wealth Advisors LLC bought a new position in Pfizer during the second quarter valued at approximately $29,000. Quarry LP acquired a new stake in Pfizer in the second quarter valued at approximately $31,000. Trivant Custom Portfolio Group LLC grew its position in Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. acquired a new position in shares of Pfizer during the 2nd quarter worth $34,000. 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.