Pfizer (NYSE:PFE) Stock Price Down 0.9% - What's Next?

Pfizer Inc. (NYSE:PFE - Get Free Report)'s stock price fell 0.9% during trading on Monday . The company traded as low as $23.98 and last traded at $23.99. 7,197,785 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 40,361,336 shares. The stock had previously closed at $24.20.

Wall Street Analysts Forecast Growth

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

Pfizer Stock Down 1.1 %

The company has a market cap of $135.80 billion, a PE ratio of 16.98, a PEG ratio of 0.64 and a beta of 0.67. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company's fifty day moving average is $24.34 and its 200-day moving average is $25.73.

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

Pfizer Dividend Announcement

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 given 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 7.18%. Pfizer's dividend payout ratio (DPR) is presently 124.64%.

Insiders Place Their Bets

In other news, Director Ronald E. Blaylock bought 19,457 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were bought at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the purchase, the director now owns 27,707 shares in the company, valued at approximately $710,684.55. The trade was a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company's stock.

Institutional Trading of Pfizer

Hedge funds and other institutional investors have recently modified their holdings of the company. Nordea Investment Management AB lifted its holdings in Pfizer by 36.1% in the 4th quarter. Nordea Investment Management AB now owns 4,071,700 shares of the biopharmaceutical company's stock worth $108,002,000 after purchasing an additional 1,080,822 shares in the last quarter. Parsons Capital Management Inc. RI increased its holdings in Pfizer by 118.7% in the 4th quarter. Parsons Capital Management Inc. RI now owns 294,764 shares of the biopharmaceutical company's stock valued at $7,820,000 after acquiring an additional 159,984 shares during the last quarter. Mcdonald Partners LLC boosted its holdings in shares of Pfizer by 9.9% during the 4th quarter. Mcdonald Partners LLC now owns 110,296 shares of the biopharmaceutical company's stock valued at $2,926,000 after purchasing an additional 9,963 shares during the last quarter. Merit Financial Group LLC grew its position in shares of Pfizer by 60.8% during the fourth quarter. Merit Financial Group LLC now owns 127,967 shares of the biopharmaceutical company's stock valued at $3,395,000 after purchasing an additional 48,397 shares in the last quarter. Finally, Pensionfund Sabic increased its holdings in shares of Pfizer by 41.7% in the fourth quarter. Pensionfund Sabic now owns 85,000 shares of the biopharmaceutical company's stock worth $2,255,000 after purchasing an additional 25,000 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.

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