Pfizer (NYSE:PFE) Shares Down 0.4% Following Analyst Downgrade

Pfizer Inc. (NYSE:PFE)’s share price fell 0.4% on Wednesday after Truist Financial lowered their price target on the stock from $36.00 to $32.00. Truist Financial currently has a buy rating on the stock. Pfizer traded as low as $26.12 and last traded at $26.32. 8,655,838 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 38,507,656 shares. The stock had previously closed at $26.43.

A number of other research firms have also recently issued reports on PFE. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Wolfe Research initiated coverage on Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 price target for the company. Guggenheim cut their price objective on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Sanford C. Bernstein initiated coverage on Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price for the company. Finally, StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.14.

Insiders Place Their Bets

In other news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $282,400. The trade was a 11.11 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Institutional Trading of Pfizer

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Birmingham Capital Management Co. Inc. AL lifted its stake in Pfizer by 2.7% during the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 186,650 shares of the biopharmaceutical company’s stock worth $5,402,000 after acquiring an additional 4,887 shares in the last quarter. Copley Financial Group Inc. acquired a new position in shares of Pfizer in the third quarter valued at approximately $577,000. Logan Capital Management Inc. increased its stake in Pfizer by 2.7% during the 3rd quarter. Logan Capital Management Inc. now owns 580,545 shares of the biopharmaceutical company’s stock worth $16,801,000 after buying an additional 15,160 shares during the period. Inspire Trust Co. N.A. lifted its holdings in Pfizer by 19.1% during the 3rd quarter. Inspire Trust Co. N.A. now owns 92,708 shares of the biopharmaceutical company’s stock worth $2,683,000 after buying an additional 14,891 shares in the last quarter. Finally, Peapack Gladstone Financial Corp grew its stake in shares of Pfizer by 23.9% in the third quarter. Peapack Gladstone Financial Corp now owns 762,976 shares of the biopharmaceutical company’s stock worth $22,082,000 after acquiring an additional 147,405 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Down 0.4 %

The firm has a market cap of $149.21 billion, a PE ratio of 35.57, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $27.03 and a two-hundred day moving average price of $28.24.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the previous year, the company posted ($0.17) earnings per share. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, equities research analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The firm 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. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a yield of 6.53%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is 227.03%.

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.