Pfizer (NYSE:PFE) Stock Price Down 0% – What’s Next?

Shares of Pfizer Inc. (NYSE:PFE) dropped 0% during mid-day trading on Tuesday . The company traded as low as $26.38 and last traded at $26.70. Approximately 7,686,332 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 38,890,852 shares. The stock had previously closed at $26.71.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PFE shares. Citigroup began coverage on Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective for the company. Bank of America reaffirmed a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. Truist Financial dropped their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, Sanford C. Bernstein began coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.14.

Pfizer Stock Up 0.1 %

The firm has a market capitalization of $151.54 billion, a PE ratio of 36.14, a P/E/G ratio of 0.63 and a beta of 0.65. 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 company has a 50-day moving average price of $26.77 and a 200 day moving average price of $28.15.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.42. The business 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%. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.17) EPS. Analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 6.43%. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is 232.43%.

Insider Transactions at Pfizer

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Gladius Capital Management LP grew its holdings in Pfizer by 102.8% during the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 38,015 shares during the last quarter. Quarry LP bought a new position in shares of Pfizer during the 2nd quarter worth $31,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Pfizer in the 3rd quarter valued at $35,000. Joseph Group Capital Management raised its stake in shares of Pfizer by 168.3% during the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 771 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Pfizer during the second quarter worth $38,000. 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.