Pfizer (NYSE:PFE) Trading Down 2.5%

Pfizer Inc. (NYSE:PFE)’s stock price fell 2.5% on Thursday . The stock traded as low as $25.58 and last traded at $25.61. 11,209,758 shares were traded during trading, a decline of 73% from the average session volume of 41,489,688 shares. The stock had previously closed at $26.27.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PFE. Guggenheim began coverage on Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price target on the stock. TD Cowen lowered Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a research report on Thursday, January 4th. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Monday, April 15th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $36.33.

Pfizer Stock Performance

The company has a market cap of $143.72 billion, a P/E ratio of 70.50, a P/E/G ratio of 1.14 and a beta of 0.61. The firm has a 50 day moving average price of $26.96 and a 200-day moving average price of $28.42. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.29. The company had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.37 billion. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. The firm’s revenue was down 41.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.14 EPS. On average, research analysts predict that Pfizer Inc. will post 2.24 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.68 annualized dividend and a yield of 6.62%. Pfizer’s payout ratio is 466.67%.

Institutional Trading of Pfizer

Several hedge funds have recently added to or reduced their stakes in PFE. SS&H Financial Advisors Inc. bought a new stake in Pfizer during the 3rd quarter valued at approximately $3,172,000. Clarity Financial LLC lifted its position in shares of Pfizer by 4.8% in the 3rd quarter. Clarity Financial LLC now owns 9,108 shares of the biopharmaceutical company’s stock worth $302,000 after acquiring an additional 417 shares during the period. Secure Asset Management LLC lifted its position in shares of Pfizer by 338.2% in the 3rd quarter. Secure Asset Management LLC now owns 48,218 shares of the biopharmaceutical company’s stock worth $1,599,000 after acquiring an additional 37,214 shares during the period. Welch Group LLC lifted its position in shares of Pfizer by 3.2% in the 3rd quarter. Welch Group LLC now owns 979,736 shares of the biopharmaceutical company’s stock worth $32,498,000 after acquiring an additional 30,517 shares during the period. Finally, WASHINGTON TRUST Co lifted its position in shares of Pfizer by 0.7% in the 3rd quarter. WASHINGTON TRUST Co now owns 349,739 shares of the biopharmaceutical company’s stock worth $11,601,000 after acquiring an additional 2,404 shares during the period. Institutional investors own 68.36% of the company’s stock.

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.