Pfizer (NYSE:PFE) Stock Price Down 0.6% – Time to Sell?

Shares of Pfizer Inc. (NYSE:PFE) dropped 0.6% on Monday . The company traded as low as $26.36 and last traded at $26.55. Approximately 7,906,637 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 31,469,996 shares. The stock had previously closed at $26.72.

Analysts Set New Price Targets

Several brokerages have issued reports on PFE. Citigroup started coverage on Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Guggenheim cut their price objective on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Finally, Truist Financial decreased their target price on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Pfizer Price Performance

The stock has a market cap of $151.03 billion, a PE ratio of 36.01, a P/E/G ratio of 0.63 and a beta of 0.64. The firm’s fifty day moving average price is $26.18 and its 200 day moving average price is $28.04. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter in the prior year, the firm earned ($0.17) EPS. The business’s revenue was up 31.2% on a year-over-year basis. As a group, equities analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 6.45%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio is 232.43%.

Insider Activity at Pfizer

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

Hedge Funds Weigh In On Pfizer

Several large investors have recently modified their holdings of PFE. Wells Trecaso Financial Group LLC increased its position in Pfizer by 2.5% during the third quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after acquiring an additional 350 shares during the last quarter. Washington Trust Advisors Inc. raised its position in Pfizer by 0.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock worth $1,424,000 after purchasing an additional 360 shares during the period. Cullen Investment Group LTD. lifted its stake in Pfizer by 0.9% in the third quarter. Cullen Investment Group LTD. now owns 42,677 shares of the biopharmaceutical company’s stock worth $1,235,000 after purchasing an additional 377 shares during the last quarter. MidWestOne Financial Group Inc. boosted its position in shares of Pfizer by 1.5% during the second quarter. MidWestOne Financial Group Inc. now owns 26,530 shares of the biopharmaceutical company’s stock valued at $742,000 after buying an additional 386 shares during the period. Finally, Western Pacific Wealth Management LP grew its stake in shares of Pfizer by 10.5% during the third quarter. Western Pacific Wealth Management LP now owns 4,073 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 386 shares during the last quarter. Institutional investors 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.