Pfizer (NYSE:PFE) Shares Down 0% – Here’s What Happened

Shares of Pfizer Inc. (NYSE:PFE) fell 0% during mid-day trading on Tuesday . The company traded as low as $27.58 and last traded at $27.75. 6,934,879 shares traded hands during trading, a decline of 81% from the average session volume of 37,141,242 shares. The stock had previously closed at $27.76.

Analyst Ratings Changes

Several equities analysts have issued reports on PFE shares. Sanford C. Bernstein assumed coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Barclays raised their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. Eight research analysts have rated the stock with 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 company has an average rating of “Moderate Buy” and an average price target of $33.58.

Pfizer Stock Performance

The stock has a 50 day moving average of $29.01 and a two-hundred day moving average of $28.63. The stock has a market capitalization of $157.87 billion, a PE ratio of 37.50, a P/E/G ratio of 0.89 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60.

Pfizer (NYSE:PFE) last posted its quarterly 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. The business had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.40%. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.17) EPS. Research analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued 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 6.03%. Pfizer’s dividend payout ratio (DPR) is 227.03%.

Insiders Place Their Bets

In other news, Director Scott Gottlieb acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is currently owned by insiders.

Institutional Trading of Pfizer

A number of large investors have recently modified their holdings of PFE. Olistico Wealth LLC purchased a new position in shares of Pfizer during the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC bought a new position in Pfizer during the 2nd quarter worth about $29,000. Quarry LP bought a new position in Pfizer in the second quarter valued at $31,000. Financial Connections Group Inc. acquired a new stake in shares of Pfizer in the 2nd quarter valued at approximately $34,000. Finally, ESL Trust Services LLC bought a new stake in shares of Pfizer during the 1st quarter worth about $37,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

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.