Pfizer (NYSE:PFE) Reaches New 12-Month Low – What’s Next?

Pfizer Inc. (NYSE:PFE) reached a new 52-week low on Friday . The stock traded as low as $24.52 and last traded at $24.77, with a volume of 9747602 shares changing hands. The stock had previously closed at $26.02.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. StockNews.com upgraded Pfizer from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. Finally, Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.92.

Pfizer Price Performance

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 capitalization of $140.54 billion, a PE ratio of 33.51, a P/E/G ratio of 0.85 and a beta of 0.67. The company has a 50-day moving average price of $28.64 and a 200-day moving average price of $28.64.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. Pfizer’s revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.17) EPS. Sell-side analysts forecast that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 6.77%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Insider Activity

In related news, Director Scott Gottlieb purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was purchased 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. The trade was a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

Institutional Trading of Pfizer

Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp increased its holdings in Pfizer by 1.2% during the 3rd quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock worth $8,405,930,000 after purchasing an additional 3,405,539 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Pfizer by 11.0% in the 3rd 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. Geode Capital Management LLC raised its stake in shares of Pfizer by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock valued at $3,392,342,000 after purchasing an additional 1,855,419 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Pfizer by 3.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after buying an additional 2,241,609 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Pfizer by 22.4% in 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 acquiring an additional 6,977,587 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

About Pfizer

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.