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

Pfizer Inc. (NYSE:PFE - Get Free Report) shares fell 1.8% on Tuesday . The stock traded as low as $26.10 and last traded at $26.17. 9,679,515 shares were traded during trading, a decline of 75% from the average session volume of 39,397,207 shares. The stock had previously closed at $26.64.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PFE. Wolfe Research began coverage on shares of Pfizer in a research note on Friday, November 15th. They set an "underperform" rating and a $25.00 price target for the company. Truist Financial decreased their price target on shares of Pfizer from $36.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, December 18th. Bank of America reaffirmed a "neutral" rating and set a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. StockNews.com cut shares of Pfizer from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, November 20th. Finally, Guggenheim reaffirmed a "buy" rating on shares of Pfizer in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer currently has an average rating of "Moderate Buy" and an average target price of $31.92.

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Pfizer Stock Down 1.0 %

The firm has a fifty day simple moving average of $26.28 and a 200-day simple moving average of $27.18. The firm has a market cap of $145.79 billion, a price-to-earnings ratio of 18.24, a P/E/G ratio of 0.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.15. The firm had revenue of $17.76 billion for 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 company's quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 EPS. As a group, sell-side analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, January 24th were given a dividend of $0.43 per share. This is a boost from Pfizer's previous quarterly dividend of $0.42. The ex-dividend date was Friday, January 24th. This represents a $1.72 annualized dividend and a yield of 6.69%. Pfizer's dividend payout ratio (DPR) is presently 121.99%.

Insiders Place Their Bets

In related news, Director Ronald E. Blaylock purchased 19,457 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the transaction, the director now owns 27,707 shares of the company's stock, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.06% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Retirement Wealth Solutions LLC bought a new position in shares of Pfizer in the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new position in shares of Pfizer in the fourth quarter worth $26,000. Clarity Asset Management Inc. bought a new position in shares of Pfizer in the fourth quarter worth $27,000. Gould Capital LLC grew its position in Pfizer by 97.2% in the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 493 shares during the last quarter. Finally, Gladius Capital Management LP grew its position in Pfizer by 102.8% in the third 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. 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.