Pfizer (NYSE:PFE) Trading Down 3% - Should You Sell?

Pfizer Inc. (NYSE:PFE - Get Free Report) shares traded down 3% during mid-day trading on Wednesday . The company traded as low as $22.21 and last traded at $22.18. 12,336,022 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 48,326,051 shares. The stock had previously closed at $22.87.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Cantor Fitzgerald initiated coverage on shares of Pfizer in a report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 target price on the stock. UBS Group boosted their price objective 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. Citigroup reaffirmed a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. The Goldman Sachs Group reissued a "neutral" rating and issued a $25.00 price target (down from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. Finally, Hsbc Global Res raised Pfizer to a "strong-buy" rating in a research report on Monday, March 10th. One research analyst has rated the stock with a sell rating, eight have assigned 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 target price of $29.17.

Pfizer Trading Up 0.2%

The stock has a fifty day simple moving average of $23.72 and a 200 day simple moving average of $25.40. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The firm has a market cap of $128.75 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 0.64 and a beta of 0.58.

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

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 7.60%. The ex-dividend date is Friday, May 9th. Pfizer's dividend payout ratio is currently 124.64%.

Institutional Investors Weigh In On Pfizer

A number of hedge funds have recently added to or reduced their stakes in the stock. Patriot Financial Group Insurance Agency LLC boosted its position in Pfizer by 1.0% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 38,706 shares of the biopharmaceutical company's stock worth $1,027,000 after purchasing an additional 391 shares during the last quarter. D Orazio & Associates Inc. boosted its holdings in shares of Pfizer by 5.5% in the fourth quarter. D Orazio & Associates Inc. now owns 7,549 shares of the biopharmaceutical company's stock worth $200,000 after buying an additional 391 shares during the last quarter. Lipe & Dalton grew its position in Pfizer by 17.7% during the fourth quarter. Lipe & Dalton now owns 2,659 shares of the biopharmaceutical company's stock valued at $71,000 after buying an additional 400 shares during the period. Beam Wealth Advisors Inc. increased its holdings in Pfizer by 1.5% during the fourth quarter. Beam Wealth Advisors Inc. now owns 27,444 shares of the biopharmaceutical company's stock valued at $728,000 after buying an additional 401 shares during the last quarter. Finally, Providence Capital Advisors LLC raised its position in Pfizer by 0.4% in the fourth quarter. Providence Capital Advisors LLC now owns 114,358 shares of the biopharmaceutical company's stock worth $3,034,000 after acquiring an additional 409 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

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.