Pfizer (NYSE:PFE) Stock Price Down 0.7% – Time to Sell?

Pfizer Inc. (NYSE:PFE) shares were down 0.7% during mid-day trading on Wednesday . The stock traded as low as $28.19 and last traded at $28.26. Approximately 13,116,017 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 37,053,098 shares. The stock had previously closed at $28.46.

Analysts Set New Price Targets

PFE has been the topic of a number of recent analyst reports. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Sanford C. Bernstein assumed coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target on the stock. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Citigroup initiated coverage on Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price on the stock. Finally, Barclays raised their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Trading Down 0.4 %

The company has a 50 day simple moving average of $29.05 and a 200 day simple moving average of $28.56. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $159.80 billion, a PE ratio of 38.38, a P/E/G ratio of 0.90 and a beta of 0.67.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.40%. Pfizer’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period last year, the firm posted ($0.17) EPS. Analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.96%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is 227.03%.

Insider Activity

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

Several institutional investors have recently made changes to their positions in the stock. LGT Group Foundation grew its stake in Pfizer by 2.5% during the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock worth $20,786,000 after buying an additional 18,274 shares during the last quarter. Creative Planning boosted its holdings in shares of Pfizer by 17.1% during the third quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock valued at $52,692,000 after acquiring an additional 266,167 shares during the period. ORG Partners LLC increased its holdings in shares of Pfizer by 1,729.9% in the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after acquiring an additional 44,458 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in Pfizer by 10.3% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 256,460 shares of the biopharmaceutical company’s stock valued at $7,422,000 after purchasing an additional 23,928 shares during the last quarter. Finally, Everett Harris & Co. CA grew its position in Pfizer by 21.7% in the 3rd quarter. Everett Harris & Co. CA now owns 218,344 shares of the biopharmaceutical company’s stock worth $6,319,000 after purchasing an additional 38,870 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.