Pfizer (NYSE:PFE) Stock Price Down 3.8% – Time to Sell?

Pfizer Inc. (NYSE:PFE)’s share price was down 3.8% during trading on Friday . The stock traded as low as $24.48 and last traded at $25.04. Approximately 58,602,102 shares traded hands during trading, an increase of 55% from the average daily volume of 37,886,434 shares. The stock had previously closed at $26.02.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PFE shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. UBS Group boosted their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Citigroup began coverage on shares of Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective for the company. Finally, Wells Fargo & Company lifted their price target on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and an average target price of $32.92.

Pfizer Stock Performance

The firm’s 50 day simple moving average is $28.64 and its 200-day simple moving average is $28.64. The company has a market cap of $140.54 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 0.85 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.17) EPS. On average, sell-side analysts predict that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 6.77%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

Insiders Place Their Bets

In other news, Director Scott Gottlieb purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This represents a 11.11 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in Pfizer by 1.6% during the third quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock worth $3,392,342,000 after acquiring an additional 1,855,419 shares during the last quarter. Frisch Financial Group Inc. increased its position in shares of Pfizer by 3.9% during the 3rd quarter. Frisch Financial Group Inc. now owns 34,334 shares of the biopharmaceutical company’s stock worth $994,000 after purchasing an additional 1,287 shares during the last quarter. Brophy Wealth Management LLC purchased a new stake in Pfizer in the 3rd quarter valued at about $945,000. Executive Wealth Management LLC acquired a new position in Pfizer in the third quarter valued at about $476,000. Finally, Nabity Jensen Investment Management Inc purchased a new position in Pfizer during the third quarter worth about $347,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.