Pfizer (NYSE:PFE) Shares Down 0.4% – What’s Next?

Pfizer Inc. (NYSE:PFE)’s share price was down 0.4% on Tuesday . The stock traded as low as $26.13 and last traded at $26.14. Approximately 15,552,259 shares traded hands during trading, a decline of 59% from the average daily volume of 37,534,734 shares. The stock had previously closed at $26.24.

Analyst Ratings Changes

Several research analysts have weighed in on PFE shares. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. Barclays lifted their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Sanford C. Bernstein assumed coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective for the company. Finally, Citigroup began coverage on shares of Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Price Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The stock has a market cap of $147.46 billion, a PE ratio of 35.74, a PEG ratio of 0.83 and a beta of 0.67. The company has a 50-day simple moving average of $28.76 and a 200-day simple moving average of $28.67.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. Pfizer’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) EPS. Sell-side analysts anticipate that Pfizer Inc. will post 2.96 EPS 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 $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.46%. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

Insider Buying and Selling

In related news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Pfizer

Several hedge funds have recently modified their holdings of PFE. Charles Schwab Investment Management Inc. grew its holdings in Pfizer by 11.0% during 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 purchasing an additional 12,864,343 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Pfizer by 3.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after purchasing an additional 2,241,609 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 purchasing an additional 6,977,587 shares during the last quarter. Swiss National Bank increased its holdings in shares of Pfizer by 0.6% during the third quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after buying an additional 100,900 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Pfizer by 2.8% during the third quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock worth $477,929,000 after buying an additional 456,168 shares in the last quarter. Institutional investors 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.