Pfizer (NYSE:PFE) Reaches New 52-Week Low – Time to Sell?

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. UBS Group raised their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Sanford C. Bernstein began coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. Finally, Wolfe Research initiated coverage on shares of Pfizer in a research note on Friday. They set an “underperform” rating and a $25.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Pfizer presently has an average 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 quick ratio of 0.73 and a current ratio of 1.00. The firm has a fifty day simple moving average of $28.64 and a 200 day simple moving average of $28.64. The company 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.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) 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 the consensus estimate of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period last year, the firm earned ($0.17) earnings per share. Equities analysts anticipate that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 6.77%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is 227.03%.

Insider Buying and Selling

In other news, Director Scott Gottlieb acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was acquired 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 in the company, valued at approximately $282,400. The trade was a 11.11 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pfizer

Several institutional investors and hedge funds have recently modified their holdings of the business. FAS Wealth Partners Inc. increased its position in shares of Pfizer by 1.3% in the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock valued at $736,000 after buying an additional 342 shares in the last quarter. Sachetta LLC raised its position in Pfizer by 7.3% during the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after acquiring an additional 342 shares during the period. Wells Trecaso Financial Group LLC lifted its holdings in Pfizer by 2.5% during the third quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after purchasing an additional 350 shares in the last quarter. Ironvine Capital Partners LLC grew its position in shares of Pfizer by 2.1% in the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock valued at $470,000 after purchasing an additional 353 shares during the period. Finally, Secure Asset Management LLC increased its stake in shares of Pfizer by 0.6% during the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after purchasing an additional 353 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

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.