Pfizer (NYSE:PFE) Stock Price Down 1.8% - Should You Sell?

Pfizer Inc. (NYSE:PFE - Get Free Report) dropped 1.8% during mid-day trading on Tuesday . The stock traded as low as $23.37 and last traded at $23.45. Approximately 14,706,620 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 40,394,055 shares. The stock had previously closed at $23.87.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PFE. Citigroup reissued a "neutral" rating on shares of Pfizer in a research report on Thursday, March 27th. Cantor Fitzgerald started coverage on Pfizer in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price target for the company. Hsbc Global Res raised Pfizer to a "strong-buy" rating in a research report on Monday, March 10th. The Goldman Sachs Group reissued a "neutral" rating and issued a $25.00 target price (down previously from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. Finally, UBS Group raised their target price on Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Pfizer currently has an average rating of "Moderate Buy" and a consensus price target of $29.17.

Pfizer Stock Up 0.0 %

The company has a 50-day simple moving average of $24.15 and a 200 day simple moving average of $25.65. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The company has a market cap of $129.31 billion, a P/E ratio of 16.17, a P/E/G ratio of 0.64 and a beta of 0.58.

Pfizer (NYSE:PFE - Get Free Report) last issued its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $14.43 billion. During the same period in the prior year, the firm earned $0.82 EPS. The company's revenue for the quarter was down 7.8% compared to the same quarter last year. On average, equities analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The business 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 7.54%. Pfizer's dividend payout ratio is currently 124.64%.

Insider Transactions at Pfizer

In other Pfizer news, Director Ronald E. Blaylock purchased 19,457 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were acquired at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the purchase, the director now owns 27,707 shares of the company's stock, valued at approximately $710,684.55. The trade was a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company's stock.

Institutional Investors Weigh In On Pfizer

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Retirement Wealth Solutions LLC purchased a new stake in shares of Pfizer in the fourth quarter worth about $26,000. Rialto Wealth Management LLC purchased a new position in Pfizer during the fourth quarter worth approximately $26,000. Clarity Asset Management Inc. purchased a new stake in shares of Pfizer in the 4th quarter valued at approximately $27,000. Gould Capital LLC raised its position in Pfizer by 97.2% in the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 493 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Pfizer during the fourth quarter worth $28,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.