Pfizer (NYSE:PFE) Shares Down 0.8% – Should You Sell?

Pfizer Inc. (NYSE:PFE)’s stock price dropped 0.8% during mid-day trading on Friday . The stock traded as low as $26.61 and last traded at $26.71. Approximately 7,684,999 shares changed hands during trading, a decline of 78% from the average daily volume of 34,325,297 shares. The stock had previously closed at $26.91.

Analyst Ratings Changes

PFE has been the topic of several research reports. Guggenheim cut their price target on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Citigroup cut their price objective on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Wednesday, October 23rd. StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Finally, Wolfe Research began coverage on Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Stock Performance

The stock has a market capitalization of $150.46 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 0.64 and a beta of 0.64. 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 stock’s 50 day moving average is $26.25 and its 200 day moving average is $27.89.

Pfizer (NYSE:PFE) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.17) earnings per share. On average, analysts predict that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 6.48%. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is presently 232.44%.

Hedge Funds Weigh In On Pfizer

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Pfizer in the second quarter valued at $31,000. Dana Investment Advisors Inc. lifted its stake in shares of Pfizer by 9.6% in the 2nd quarter. Dana Investment Advisors Inc. now owns 100,181 shares of the biopharmaceutical company’s stock valued at $2,803,000 after purchasing an additional 8,771 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Pfizer during the second quarter valued at approximately $118,000. Sanctuary Advisors LLC bought a new stake in Pfizer during the second quarter valued at about $16,534,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Pfizer by 60.3% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 583,600 shares of the biopharmaceutical company’s stock valued at $16,329,000 after buying an additional 219,600 shares during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

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.