Pfizer (NYSE:PFE) Stock Price Down 0.4% on Analyst Downgrade

Pfizer Inc. (NYSE:PFE) fell 0.4% during trading 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 trading, a decline of 78% from the average session volume of 38,507,656 shares. The stock had previously closed at $26.43.

Several other research firms have also commented on PFE. StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. Bank of America reaffirmed a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. Sanford C. Bernstein initiated coverage on Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective on the stock. Finally, Citigroup began coverage on Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.14.

Insider Transactions at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of Pfizer stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased 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 $282,400. This represents a 11.11 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.06% of the company’s stock.

Institutional Trading of Pfizer

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

Pfizer Stock Down 2.0 %

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 company has a market capitalization of $146.72 billion, a PE ratio of 34.99, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65. The firm has a 50-day moving average of $26.95 and a two-hundred day moving average of $28.22.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (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 firm had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same period last year, the company earned ($0.17) EPS. The company’s quarterly revenue was up 31.2% on a year-over-year basis. Equities research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.64%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is presently 232.43%.

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.