Truist Financial Has Lowered Expectations for Pfizer (NYSE:PFE) Stock Price

Pfizer (NYSE:PFE - Free Report) had its price target lowered by Truist Financial from $36.00 to $32.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company's stock.

A number of other equities research analysts also recently issued reports on the company. Cantor Fitzgerald restated an "overweight" rating and set a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. Guggenheim lowered their price target on Pfizer from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, December 11th. Bank of America reiterated a "neutral" rating and set a $29.00 price objective on shares of Pfizer in a research report on Tuesday, December 10th. Sanford C. Bernstein assumed coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a "market perform" rating and a $32.00 target price for the company. Finally, Evercore ISI raised shares of Pfizer to a "strong-buy" rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $32.14.

Pfizer Price Performance

Shares of NYSE PFE traded down $0.54 during midday trading on Wednesday, reaching $25.89. 46,986,047 shares of the stock traded hands, compared to its average volume of 38,670,906. The company's 50 day moving average is $26.95 and its 200 day moving average is $28.22. Pfizer has a one year low of $24.48 and a one year high of $31.54. 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 stock has a market capitalization of $146.72 billion, a PE ratio of 34.99, a P/E/G ratio of 0.63 and a beta of 0.65.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings data 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 net margin of 7.07% and a return on equity of 16.28%. The business had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. During the same quarter last year, the business earned ($0.17) earnings per share. Pfizer's quarterly revenue was up 31.2% compared to the same quarter last year. On average, equities research analysts anticipate that Pfizer will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.64%. This is a boost from Pfizer's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. Pfizer's dividend payout ratio is currently 232.43%.

Insider Activity

In related news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Gladius Capital Management LP boosted its stake 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 in the last quarter. Quarry LP acquired a new stake in shares of Pfizer in the 2nd quarter worth $31,000. Financial Connections Group Inc. purchased a new position in Pfizer during the 2nd quarter worth $34,000. Teachers Insurance & Annuity Association of America acquired a new position in Pfizer during the 3rd quarter valued at about $35,000. Finally, Joseph Group Capital Management raised its stake in Pfizer by 168.3% in the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company's stock valued at $36,000 after buying an additional 771 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

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.