Pfizer (NYSE:PFE) Trading Down 0.9% on Analyst Downgrade

Shares of Pfizer Inc. (NYSE:PFE) dropped 0.9% during mid-day trading on Wednesday 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 $26.88. Approximately 9,896,990 shares traded hands during trading, a decline of 68% from the average daily volume of 30,847,986 shares. The stock had previously closed at $27.13.

Other research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Guggenheim cut their price objective on Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. 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. Finally, Truist Financial decreased their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Insider Activity

In related news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Gladius Capital Management LP raised its holdings in Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 38,015 shares during the period. Quarry LP bought a new stake in shares of Pfizer in the 2nd quarter valued at $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in Pfizer during the 3rd quarter worth $35,000. Joseph Group Capital Management lifted its holdings in Pfizer by 168.3% during the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 771 shares in the last quarter. Finally, Kennebec Savings Bank acquired a new position in Pfizer in the third quarter valued at about $50,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 0.8 %

The company has a market capitalization of $152.56 billion, a P/E ratio of 36.38, a P/E/G ratio of 0.63 and a beta of 0.64. 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 firm has a fifty day simple moving average of $26.23 and a 200-day simple moving average of $28.06.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period last year, the company posted ($0.17) EPS. On average, equities research analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be paid a $0.43 dividend. The ex-dividend date is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.39%. Pfizer’s dividend payout ratio is presently 232.43%.

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.