Pfizer (NYSE:PFE) Shares Down 1% - What's Next?

Pfizer Inc. (NYSE:PFE - Get Free Report) shares dropped 1% during mid-day trading on Thursday . The stock traded as low as $22.82 and last traded at $22.82. Approximately 10,477,473 shares changed hands during trading, a decline of 78% from the average daily volume of 48,205,383 shares. The stock had previously closed at $23.04.

Analyst Upgrades and Downgrades

PFE has been the topic of several research reports. Guggenheim restated a "buy" rating on shares of Pfizer in a research note on Tuesday, March 18th. UBS Group increased their price target on Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Cantor Fitzgerald assumed coverage on Pfizer in a report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price objective on the stock. Hsbc Global Res raised Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. Finally, Citigroup reissued a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Pfizer currently has an average rating of "Moderate Buy" and a consensus price target of $29.17.

Pfizer Trading Up 1.3%

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 stock's 50 day moving average price is $23.38 and its 200-day moving average price is $25.16. The stock has a market capitalization of $132.66 billion, a P/E ratio of 16.55, a P/E/G ratio of 0.64 and a beta of 0.58.

Pfizer (NYSE:PFE - Get Free Report) last released 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. The business had revenue of $13.72 billion during the quarter, compared to analysts' expectations of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company's quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.82 earnings per share. As a group, equities research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 7.37%. The ex-dividend date of this dividend is Friday, May 9th. Pfizer's dividend payout ratio (DPR) is presently 124.64%.

Institutional Investors Weigh In On Pfizer

Hedge funds and other institutional investors have recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Pfizer by 1.0% during 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 in the last quarter. D Orazio & Associates Inc. lifted its holdings in Pfizer by 5.5% in the 4th quarter. D Orazio & Associates Inc. now owns 7,549 shares of the biopharmaceutical company's stock valued at $200,000 after acquiring an additional 391 shares during the last quarter. Lipe & Dalton lifted its stake 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 in the last quarter. Beam Wealth Advisors Inc. lifted its position in shares of Pfizer by 1.5% in the fourth quarter. Beam Wealth Advisors Inc. now owns 27,444 shares of the biopharmaceutical company's stock worth $728,000 after purchasing an additional 401 shares in the last quarter. Finally, Providence Capital Advisors LLC lifted its position in shares of 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 purchasing an additional 409 shares in the last quarter. 68.36% of the stock is currently 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.