Pfizer (NYSE:PFE) Shares Down 1.1% - Here's Why

Shares of Pfizer Inc. (NYSE:PFE - Get Free Report) dropped 1.1% on Tuesday . The stock traded as low as $25.60 and last traded at $25.60. Approximately 8,542,346 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 37,594,320 shares. The stock had previously closed at $25.87.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Wolfe Research started coverage on shares of Pfizer in a research note on Friday, November 15th. They set an "underperform" rating and a $25.00 price objective on the stock. Guggenheim restated a "buy" rating and set a $33.00 target price on shares of Pfizer in a report on Monday, February 10th. Truist Financial cut their price target on Pfizer from $36.00 to $32.00 and set a "buy" rating on the stock in a report on Wednesday, December 18th. Finally, Citigroup dropped their price objective on Pfizer from $30.00 to $29.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $31.92.

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Pfizer Trading Down 0.6 %

The stock's fifty day simple moving average is $26.28 and its 200-day simple moving average is $27.56. 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 has a market cap of $144.48 billion, a PE ratio of 18.08, a PEG ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.15. The company had revenue of $17.76 billion during the quarter, compared to analysts' expectations of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm's revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS. On average, sell-side analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be given a dividend of $0.43 per share. 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 6.75%. Pfizer's dividend payout ratio (DPR) is currently 121.99%.

Insider Activity

In related news, Director Ronald E. Blaylock bought 19,457 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average cost of $25.65 per share, with a total value of $499,072.05. Following the completion of the acquisition, the director now directly owns 27,707 shares in the company, valued at approximately $710,684.55. The trade was a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.06% of the company's stock.

Institutional Investors Weigh In On Pfizer

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Pfizer by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 518,535,151 shares of the biopharmaceutical company's stock valued at $13,756,738,000 after buying an additional 2,285,276 shares in the last quarter. State Street Corp increased its stake in shares of Pfizer by 1.2% in the 3rd quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company's stock valued at $8,405,930,000 after purchasing an additional 3,405,539 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Pfizer by 19.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company's stock worth $4,124,330,000 after purchasing an additional 25,315,159 shares in the last quarter. Geode Capital Management LLC grew its holdings in Pfizer by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 120,589,782 shares of the biopharmaceutical company's stock valued at $3,190,131,000 after purchasing an additional 2,923,537 shares during the period. Finally, Norges Bank purchased a new stake in shares of Pfizer in the fourth quarter valued at approximately $2,328,986,000. 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.