Pfizer (NYSE:PFE) Shares Down 0.3% - Here's Why

Shares of Pfizer Inc. (NYSE:PFE - Get Free Report) fell 0.3% during mid-day trading on Wednesday . The company traded as low as $23.29 and last traded at $23.45. 9,159,982 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 40,902,402 shares. The stock had previously closed at $23.52.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PFE shares. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. UBS Group increased their price target on shares of Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Citigroup restated a "neutral" rating on shares of Pfizer in a research report on Thursday, March 27th. The Goldman Sachs Group reissued a "neutral" rating and set a $25.00 price objective (down previously from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. Finally, Guggenheim reaffirmed a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Pfizer has an average rating of "Moderate Buy" and an average price target of $29.17.

Pfizer Trading Down 0.6%

The stock has a market cap of $132.90 billion, a PE ratio of 16.60, a PEG ratio of 0.64 and a beta of 0.58. The stock has a fifty day moving average price of $23.56 and a 200 day moving average price of $25.27. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE - Get Free Report) last issued its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company had revenue of $13.72 billion for the quarter, compared to analysts' expectations of $14.43 billion. During the same period in the prior year, the business earned $0.82 EPS. The firm's quarterly revenue was down 7.8% on a year-over-year basis. Equities analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.72 annualized dividend and a yield of 7.36%. Pfizer's dividend payout ratio (DPR) is 124.64%.

Hedge Funds Weigh In On Pfizer

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rialto Wealth Management LLC purchased a new stake in shares of Pfizer during the fourth quarter valued at $26,000. Clarity Asset Management Inc. purchased a new stake in shares of Pfizer in the 4th quarter valued at $27,000. Gould Capital LLC raised its holdings in shares of Pfizer by 97.2% during the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 493 shares during the last quarter. GKV Capital Management Co. Inc. acquired a new position in Pfizer during the first quarter valued at $27,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in Pfizer in the fourth quarter valued at $28,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

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.

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