Pfizer (NYSE:PFE) Shares Down 1.5% - Time to Sell?

Pfizer Inc. (NYSE:PFE - Get Free Report) dropped 1.5% during mid-day trading on Tuesday . The company traded as low as $22.49 and last traded at $22.74. Approximately 12,322,260 shares traded hands during trading, a decline of 70% from the average daily volume of 40,566,162 shares. The stock had previously closed at $23.09.

Analyst Ratings Changes

PFE has been the subject of a number of recent research reports. Citigroup reissued a "neutral" rating on shares of Pfizer in a research report on Thursday, March 27th. Hsbc Global Res upgraded shares of Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $25.00 target price (down previously from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. UBS Group upped their target price on shares of Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Finally, Guggenheim reiterated a "buy" rating on shares of Pfizer in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $29.17.

Pfizer Trading Down 0.6%

The company has a market cap of $130.48 billion, a P/E ratio of 16.28, a P/E/G ratio of 0.64 and a beta of 0.58. The stock's 50-day moving average is $23.96 and its two-hundred day moving average is $25.48. 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 - Get Free Report) last announced its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business had revenue of $13.72 billion during the quarter, compared to analysts' expectations of $14.43 billion. During the same period in the prior year, the company earned $0.82 earnings per share. The firm's revenue was down 7.8% on a year-over-year basis. As a group, equities research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a yield of 7.49%. Pfizer's dividend payout ratio is currently 124.64%.

Insider Buying and Selling at Pfizer

In other news, Director Ronald E. Blaylock acquired 19,457 shares of Pfizer stock in a transaction dated Thursday, February 13th. The stock was purchased at an average cost of $25.65 per share, with a total value of $499,072.05. Following the completion of the purchase, the director now directly owns 27,707 shares in the company, valued at approximately $710,684.55. This trade represents a 235.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Institutional Trading of Pfizer

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Pfizer by 0.9% in the first quarter. Vanguard Group Inc. now owns 523,165,127 shares of the biopharmaceutical company's stock worth $13,257,004,000 after purchasing an additional 4,629,976 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Pfizer by 19.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company's stock worth $4,124,330,000 after acquiring an additional 25,315,159 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Pfizer by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 120,589,782 shares of the biopharmaceutical company's stock worth $3,190,131,000 after acquiring an additional 2,923,537 shares during the last quarter. Norges Bank bought a new position in shares of Pfizer during the fourth quarter worth $2,328,986,000. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Pfizer by 7.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock worth $2,029,604,000 after acquiring an additional 5,350,381 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.