Pfizer (NYSE:PFE) Reaches New 12-Month Low - Here's What Happened

Pfizer Inc. (NYSE:PFE - Get Free Report)'s stock price reached a new 52-week low on Friday . The company traded as low as $24.52 and last traded at $24.77, with a volume of 9747602 shares. The stock had previously closed at $26.02.

Wall Street Analyst Weigh In

Several research firms have weighed in on PFE. Barclays lifted their target price on Pfizer from $30.00 to $32.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a "buy" rating to a "strong-buy" rating in a research note on Tuesday. Wells Fargo & Company lifted their price target on Pfizer from $28.00 to $30.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 31st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. Finally, Wolfe Research started coverage on Pfizer in a research note on Friday. They set 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 assigned a hold rating, five have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Pfizer has a consensus rating of "Moderate Buy" and a consensus price target of $32.92.

Pfizer Stock Down 4.6 %

The company has a market capitalization of $140.71 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 0.85 and a beta of 0.67. 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 50 day simple moving average is $28.71 and its 200-day simple moving average is $28.65.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm had revenue of $17.70 billion during the quarter, compared to analysts' expectations of $14.92 billion. During the same period in the prior year, the company posted ($0.17) earnings per share. The firm's revenue for the quarter was up 31.2% on a year-over-year basis. On average, sell-side analysts anticipate that Pfizer Inc. will post 2.96 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.77%. Pfizer's dividend payout ratio (DPR) is presently 227.03%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Pfizer

A number of institutional investors and hedge funds have recently bought and sold shares of PFE. FAS Wealth Partners Inc. lifted its stake in shares of Pfizer by 1.3% during the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company's stock valued at $736,000 after buying an additional 342 shares during the period. Sachetta LLC increased its stake in shares of Pfizer by 7.3% during the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company's stock valued at $140,000 after acquiring an additional 342 shares during the last quarter. Wells Trecaso Financial Group LLC boosted its position in shares of Pfizer by 2.5% in the third quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company's stock worth $416,000 after acquiring an additional 350 shares during the last quarter. Ironvine Capital Partners LLC grew its holdings in Pfizer by 2.1% in the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company's stock valued at $470,000 after purchasing an additional 353 shares during the period. Finally, Secure Asset Management LLC increased its position in Pfizer by 0.6% during the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company's stock worth $1,632,000 after purchasing an additional 353 shares during the last quarter. Hedge funds and other 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.

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