Pfizer (NYSE:PFE) Stock Price Down 0.1% – Here’s Why

Pfizer Inc. (NYSE:PFE) shares dropped 0.1% during mid-day trading on Wednesday . The stock traded as low as $25.17 and last traded at $25.50. Approximately 8,702,593 shares traded hands during trading, a decline of 77% from the average daily volume of 37,577,535 shares. The stock had previously closed at $25.53.

Analyst Ratings Changes

A number of equities analysts recently commented on PFE shares. Guggenheim restated a “buy” rating and set a $33.00 target price on shares of Pfizer in a report on Monday. Citigroup dropped their price objective on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. UBS Group reduced their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Bank of America restated a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. Finally, Wolfe Research began coverage on Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Stock Down 0.1 %

The firm’s 50-day moving average price is $26.28 and its two-hundred day moving average price is $27.65. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The firm has a market cap of $144.59 billion, a PE ratio of 18.09, a P/E/G ratio of 0.64 and a beta of 0.64.

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

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.74%. Pfizer’s dividend payout ratio is currently 121.99%.

Institutional Investors Weigh In On Pfizer

Several large investors have recently modified their holdings of PFE. Wells Trecaso Financial Group LLC increased its stake in Pfizer by 2.5% in the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after purchasing an additional 350 shares in the last quarter. Washington Trust Advisors Inc. increased its holdings in Pfizer by 0.7% during the 3rd quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock valued at $1,424,000 after acquiring an additional 360 shares in the last quarter. PSI Advisors LLC raised its position in shares of Pfizer by 1.4% during the 4th quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company’s stock worth $738,000 after purchasing an additional 385 shares during the last quarter. Western Pacific Wealth Management LP lifted its position in shares of Pfizer by 10.5% in the third quarter. Western Pacific Wealth Management LP now owns 4,073 shares of the biopharmaceutical company’s stock valued at $118,000 after acquiring an additional 386 shares in the last quarter. Finally, Waddell & Associates LLC boosted its stake in shares of Pfizer by 1.6% during the third quarter. Waddell & Associates LLC now owns 24,978 shares of the biopharmaceutical company’s stock valued at $723,000 after acquiring an additional 388 shares during the last quarter. Hedge funds and other institutional investors 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.