Pfizer (NYSE:PFE) Trading Down 2.8% - What's Next?

Key Points

• Pfizer's shares fell 2.8% during mid-day trading, with the stock last trading at $24.05, significantly below the previous closing price of $24.75.
• Analysts have given Pfizer a consensus rating of "Moderate Buy" with an average target price of $28.39, reflecting cautious optimism amid recent price adjustments.
• The company recently reported a quarterly earnings per share of $0.78, exceeding expectations, with revenue of $14.65 billion for the quarter, a 10.3% increase year-over-year.

Shares of Pfizer Inc. (NYSE:PFE - Get Free Report) traded down 2.8% during mid-day trading on Wednesday . The company traded as low as $24.08 and last traded at $24.05. 17,325,667 shares changed hands during trading, a decline of 62% from the average session volume of 45,729,328 shares. The stock had previously closed at $24.75.

Analyst Ratings Changes

Several brokerages recently weighed in on PFE. Cantor Fitzgerald initiated coverage on Pfizer in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 target price for the company. Bank of America increased their price objective on Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Wednesday. Citigroup boosted their target price on shares of Pfizer from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Redburn Atlantic cut their target price on shares of Pfizer from $29.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Finally, HSBC decreased their price target on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating on the stock in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $28.39.

Pfizer Price Performance

The company's 50 day moving average price is $24.39 and its 200 day moving average price is $24.54. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26. The company has a market cap of $136.14 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 0.85 and a beta of 0.52.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.20. The firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 earnings per share. On average, equities research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be given a $0.43 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.72 annualized dividend and a yield of 7.2%. Pfizer's payout ratio is presently 124.64%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clarity Asset Management Inc. acquired a new stake in Pfizer in the fourth quarter worth about $27,000. Gould Capital LLC boosted its stake in shares of Pfizer by 97.2% in the 4th 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 last quarter. GKV Capital Management Co. Inc. acquired a new stake in shares of Pfizer during the 1st quarter worth approximately $27,000. Curio Wealth LLC raised its stake in shares of Pfizer by 36,600.0% during the second quarter. Curio Wealth LLC now owns 1,101 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 1,098 shares during the last quarter. Finally, Bayforest Capital Ltd bought a new position in Pfizer in the first quarter valued at approximately $28,000. Institutional investors and hedge funds own 68.36% of the company's stock.

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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