Pfizer (NYSE:PFE) Shares Down 0.2% - Here's What Happened

Pfizer Inc. (NYSE:PFE - Get Free Report)'s share price fell 0.2% during mid-day trading on Monday . The company traded as low as $26.19 and last traded at $26.32. 7,639,419 shares traded hands during trading, a decline of 80% from the average session volume of 38,904,668 shares. The stock had previously closed at $26.36.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PFE. Evercore ISI raised shares of Pfizer to a "strong-buy" rating in a report on Wednesday, October 30th. Wolfe Research assumed coverage on Pfizer in a report on Friday, November 15th. They issued an "underperform" rating and a $25.00 price target for the company. StockNews.com lowered Pfizer from a "strong-buy" rating to a "buy" rating in a report on Wednesday, November 20th. Sanford C. Bernstein assumed coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a "market perform" rating and a $32.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $32.14.

Pfizer Stock Up 1.3 %

The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm's 50-day moving average price is $26.82 and its 200 day moving average price is $28.16. The firm has a market capitalization of $151.37 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65.

Pfizer (NYSE:PFE - Get Free Report) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm had revenue of $17.70 billion for the quarter, compared to analysts' expectations of $14.92 billion. During the same quarter in the prior year, the firm earned ($0.17) EPS. Pfizer's quarterly revenue was up 31.2% on a year-over-year basis. Sell-side analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The company also recently announced 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. This is an increase from Pfizer's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 annualized dividend and a yield of 6.44%. Pfizer's payout ratio is presently 232.43%.

Insiders Place Their Bets

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the business's stock in a transaction on 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 acquisition, the director now owns 10,000 shares of the company's stock, valued at approximately $282,400. The trade was a 11.11 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pfizer

Several hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in Pfizer by 11.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company's stock worth $3,766,366,000 after purchasing an additional 12,864,343 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Pfizer by 279.3% during the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company's stock valued at $150,481,000 after buying an additional 8,378,173 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Pfizer by 22.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company's stock worth $1,101,713,000 after buying an additional 6,977,587 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Pfizer in the 3rd quarter worth $146,481,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Pfizer by 164.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company's stock valued at $211,737,000 after acquiring an additional 4,546,809 shares during the last quarter. Institutional investors and hedge funds 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.