Pfizer (NYSE:PFE) Stock Price Down 1.8% - Here's What Happened

Pfizer Inc. (NYSE:PFE - Get Free Report) traded down 1.8% during mid-day trading on Friday . The stock traded as low as $26.89 and last traded at $26.97. 17,406,732 shares changed hands during trading, a decline of 53% from the average session volume of 37,406,023 shares. The stock had previously closed at $27.46.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Daiwa America raised Pfizer from a "moderate buy" rating to a "strong-buy" rating in a report on Wednesday, August 7th. StockNews.com raised shares of Pfizer from a "hold" rating to a "buy" rating in a research note on Wednesday, October 9th. Evercore ISI upgraded shares of Pfizer to a "strong-buy" rating in a research note on Wednesday, October 30th. Barclays upped their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 31st. Finally, UBS Group lifted their price target on shares of Pfizer from $30.00 to $31.00 and gave the company a "neutral" rating in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $33.58.

Pfizer Price Performance

The company has a market capitalization of $152.22 billion, a price-to-earnings ratio of 36.45, a P/E/G ratio of 0.88 and a beta of 0.67. The company has a fifty day simple moving average of $28.96 and a two-hundred day simple moving average of $28.64. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86.

Pfizer (NYSE:PFE - Get Free Report) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.40% and a net margin of 7.07%. The firm had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. During the same period in the prior year, the firm posted ($0.17) earnings per share. The business's quarterly revenue was up 31.2% compared to the same quarter last year. As a group, research analysts anticipate that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued 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 yield of 6.25%. Pfizer's payout ratio is 227.03%.

Insiders Place Their Bets

In related news, Director Scott Gottlieb purchased 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 directly owns 10,000 shares in the company, valued at $282,400. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by insiders.

Institutional Trading of Pfizer

A number of institutional investors have recently modified their holdings of PFE. Olistico Wealth LLC acquired a new position in shares of Pfizer during the second quarter worth about $25,000. Gladius Capital Management LP raised its holdings in shares of Pfizer by 102.8% during the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company's stock valued at $30,000 after buying an additional 38,015 shares during the period. MFA Wealth Advisors LLC acquired a new position in Pfizer during the 2nd quarter worth approximately $29,000. Quarry LP purchased a new position in Pfizer in the 2nd quarter worth approximately $31,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Pfizer during the second quarter valued at approximately $34,000. 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.

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