Pfizer (NYSE:PFE) Shares Down 0.4% on Analyst Downgrade

Pfizer Inc. (NYSE:PFE - Get Free Report)'s share price traded down 0.4% during mid-day trading on Wednesday after Truist Financial lowered their price target on the stock from $36.00 to $32.00. Truist Financial currently has a buy rating on the stock. Pfizer traded as low as $26.12 and last traded at $26.32. 8,655,838 shares changed hands during trading, a decline of 78% from the average session volume of 38,507,656 shares. The stock had previously closed at $26.43.

Other analysts have also recently issued research reports about the stock. Citigroup began coverage on shares of Pfizer in a research note on Friday, October 25th. They set a "neutral" rating and a $30.00 target price on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. Guggenheim lowered their price objective on Pfizer from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday, December 11th. Wolfe Research started coverage on shares of Pfizer in a research report on Friday, November 15th. They set an "underperform" rating and a $25.00 target price on the stock. Finally, Evercore ISI upgraded shares of Pfizer to a "strong-buy" rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Pfizer currently has a consensus rating of "Moderate Buy" and an average price target of $32.14.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of Pfizer stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This represents a 11.11 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. increased its position in shares of Pfizer by 8.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 44,843 shares of the biopharmaceutical company's stock worth $1,255,000 after acquiring an additional 3,568 shares in the last quarter. Eads & Heald Wealth Management raised its stake in shares of Pfizer by 14.6% during the 2nd quarter. Eads & Heald Wealth Management now owns 8,813 shares of the biopharmaceutical company's stock worth $247,000 after purchasing an additional 1,121 shares during the period. Heritage Financial Services LLC raised its stake in shares of Pfizer by 25.9% during the 2nd quarter. Heritage Financial Services LLC now owns 9,170 shares of the biopharmaceutical company's stock worth $257,000 after purchasing an additional 1,884 shares during the period. Griffin Asset Management Inc. grew its position in Pfizer by 27.2% during the second quarter. Griffin Asset Management Inc. now owns 86,469 shares of the biopharmaceutical company's stock valued at $2,419,000 after buying an additional 18,480 shares during the period. Finally, 1620 Investment Advisors Inc. increased its holdings in Pfizer by 2,362.3% during the second quarter. 1620 Investment Advisors Inc. now owns 19,329 shares of the biopharmaceutical company's stock worth $541,000 after buying an additional 18,544 shares during the last quarter. Institutional investors own 68.36% of the company's stock.

Pfizer Trading Down 2.0 %

The firm's 50-day simple moving average is $26.95 and its 200 day simple moving average is $28.22. The firm has a market cap of $146.72 billion, a P/E ratio of 34.99, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE - Get Free Report) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping 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 net margin of 7.07% and a return on equity of 16.28%. The company's quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.17) earnings per share. As a group, analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, January 24th. This is a boost from Pfizer's previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.64%. Pfizer's payout ratio is 232.43%.

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.