Pfizer (NYSE:PFE) Stock Price Down 0.6% – Should You Sell?

Pfizer Inc. (NYSE:PFE) was down 0.6% during trading on Wednesday . The company traded as low as $24.81 and last traded at $24.94. Approximately 8,742,763 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 38,278,762 shares. The stock had previously closed at $25.10.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein started coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. UBS Group upped their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and an average price target of $32.92.

Pfizer Stock Performance

The stock has a 50 day moving average price of $28.28 and a two-hundred day moving average price of $28.58. The company has a market capitalization of $142.03 billion, a price-to-earnings ratio of 33.87, a price-to-earnings-growth ratio of 0.80 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the previous year, the firm posted ($0.17) earnings per share. The company’s revenue was up 31.2% on a year-over-year basis. On average, analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.70%. Pfizer’s payout ratio is 227.03%.

Insider Transactions at Pfizer

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of Pfizer stock in a transaction dated Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pfizer

Several large investors have recently bought and sold shares of the business. Olistico Wealth LLC bought a new position in Pfizer during the second quarter worth about $25,000. Gladius Capital Management LP boosted its stake in Pfizer by 102.8% during the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 38,015 shares during the last quarter. MFA Wealth Advisors LLC bought a new position in Pfizer during the 2nd quarter worth approximately $29,000. Quarry LP acquired a new position in Pfizer during the second quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. bought a new stake in Pfizer in the second quarter valued at approximately $34,000. 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.