Pfizer (NYSE:PFE) Stock Price Down 1.1% - Time to Sell?

Key Points

• Pfizer's stock price fell by 1.1%, closing at $24.52, with a significant decrease in trading volume of 81% compared to its average daily volume.
• Analysts have mixed ratings on Pfizer, with a consensus price target of $28.55, reflecting one sell rating, thirteen hold ratings, and three strong buys.
• Pfizer announced a quarterly dividend of $0.43 per share, with an annual yield of 7.07%, despite a payout ratio exceeding 124%.

Pfizer Inc. (NYSE:PFE - Get Free Report)'s share price dropped 1.1% on Monday . The stock traded as low as $24.36 and last traded at $24.52. Approximately 8,489,687 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 45,181,332 shares. The stock had previously closed at $24.79.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PFE shares. UBS Group boosted their target price on Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Morgan Stanley raised their price target on Pfizer from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. BMO Capital Markets cut their price objective on Pfizer from $36.00 to $30.00 in a research report on Thursday, April 17th. Leerink Partners lowered their target price on shares of Pfizer from $28.00 to $26.00 and set a "market perform" rating for the company in a report on Wednesday, April 30th. Finally, Berenberg Bank decreased their target price on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $28.55.

Pfizer Stock Performance

The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $138.41 billion, a PE ratio of 17.63, a PEG ratio of 0.90 and a beta of 0.58. The business has a 50 day simple moving average of $24.30 and a 200 day simple moving average of $24.65.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 20.33% and a net margin of 12.62%. The company's revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 EPS. Equities research analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.07%. The ex-dividend date is Friday, July 25th. Pfizer's payout ratio is currently 124.64%.

Hedge Funds Weigh In On Pfizer

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Clarity Asset Management Inc. purchased a new stake in Pfizer in the fourth quarter valued at approximately $27,000. Gould Capital LLC grew its holdings in Pfizer by 97.2% during the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 493 shares during the last quarter. GKV Capital Management Co. Inc. purchased a new position in shares of Pfizer during the first quarter valued at approximately $27,000. North Capital Inc. acquired a new position in shares of Pfizer during the 1st quarter valued at about $28,000. Finally, Bayforest Capital Ltd purchased a new position in Pfizer during the first quarter worth approximately $28,000. 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.

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