Pfizer (NYSE:PFE) Trading Down 0% - What's Next?

Pfizer Inc. (NYSE:PFE - Get Free Report) shares dropped 0% during trading on Tuesday . The stock traded as low as $26.38 and last traded at $26.70. Approximately 7,686,332 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 38,890,852 shares. The stock had previously closed at $26.71.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PFE. Sanford C. Bernstein initiated coverage on Pfizer in a research report on Thursday, October 17th. They set a "market perform" rating and a $32.00 price objective on the stock. Citigroup began coverage on shares of Pfizer in a research report on Friday, October 25th. They issued a "neutral" rating and a $30.00 price objective on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. StockNews.com downgraded Pfizer from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 20th. Finally, Bank of America reissued a "neutral" rating and issued a $29.00 price objective on shares of Pfizer in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.14.

Pfizer Price Performance

The stock's 50 day moving average price is $26.77 and its two-hundred day moving average price is $28.15. The stock has a market cap of $151.54 billion, a price-to-earnings ratio of 36.14, 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 released its quarterly 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 company had revenue of $17.70 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.17) EPS. Equities research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be paid a $0.43 dividend. The ex-dividend date is Friday, January 24th. This is a positive change from Pfizer's previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.43%. Pfizer's dividend payout ratio (DPR) is currently 232.43%.

Insider Buying and Selling

In other news, Director Scott Gottlieb acquired 1,000 shares of the firm's stock in a transaction on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the acquisition, the director now owns 10,000 shares of the company's stock, valued at approximately $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 through this hyperlink. 0.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pfizer

Hedge funds have recently modified their holdings of the business. Gladius Capital Management LP raised its holdings in Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company's stock valued at $30,000 after acquiring an additional 38,015 shares during the last quarter. Quarry LP purchased a new stake in shares of Pfizer in the second quarter valued at approximately $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Pfizer in the third quarter valued at approximately $35,000. Joseph Group Capital Management boosted its stake in Pfizer by 168.3% during the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company's stock worth $36,000 after buying an additional 771 shares during the last quarter. Finally, Kennebec Savings Bank purchased a new stake in Pfizer in the 3rd quarter valued at $50,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.