Pfizer (NYSE:PFE) Trading Down 0.8% on Analyst Downgrade

Pfizer Inc. (NYSE:PFE)’s stock price traded down 0.8% during trading on Thursday after UBS Group lowered their price target on the stock from $31.00 to $29.00. UBS Group currently has a neutral rating on the stock. Pfizer traded as low as $26.23 and last traded at $26.92. 35,409,555 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 36,075,523 shares. The stock had previously closed at $27.13.

Several other research analysts have also commented on the company. Guggenheim reduced their price target on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Truist Financial reduced their target price on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Sanford C. Bernstein began coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target for the company. StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, eight 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, Pfizer presently has an average rating of “Moderate Buy” and an average price target of $32.00.

Insider Activity at Pfizer

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average price of $28.24 per share, for a total transaction 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 11.11 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Pfizer by 1.2% in the third quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock valued at $8,405,930,000 after acquiring an additional 3,405,539 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Pfizer by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock valued at $3,766,366,000 after purchasing an additional 12,864,343 shares in the last quarter. Geode Capital Management LLC raised its position in Pfizer by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock valued at $3,392,342,000 after purchasing an additional 1,855,419 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Pfizer by 3.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after buying an additional 2,241,609 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Pfizer by 22.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after buying an additional 6,977,587 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 0.8 %

The company’s fifty day moving average is $26.21 and its two-hundred day moving average is $28.05. 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 stock has a market cap of $152.56 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 0.63 and a beta of 0.64.

Pfizer (NYSE:PFE) last announced 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 business 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 16.28%. The company’s revenue was up 31.2% on a year-over-year basis. During the same period last year, the business earned ($0.17) EPS. On average, research analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 6.39%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. Pfizer’s payout ratio is 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.