Pfizer (NYSE:PFE) Shares Down 1.2% - What's Next?

Pfizer Inc. (NYSE:PFE) experienced a decline of 1.2% during trading on Wednesday. The stock hit a low of $25.21 and was last seen at $25.26. A total of 9,179,062 shares changed hands, marking a significant decline of 76% compared to the average daily trading volume of 38,366,023 shares. Prior to this, the stock closed at $25.56.

Analyst Ratings Changes

Recent insights from analysts indicate mixed sentiment for Pfizer shares. On August 7, Daiwa America upgraded Pfizer from a "moderate buy" to a "strong-buy". In contrast, StockNews.com downgraded Pfizer from a "strong-buy" to a "buy" on November 20. Cantor Fitzgerald maintained an "overweight" rating, setting a target price of $45.00 for Pfizer's shares as of October 23. Furthermore, Daiwa Capital Markets raised their rating from "neutral" to "outperform" and adjusted their price target from $28.00 to $34.00 on August 7. Conversely, Wolfe Research initiated coverage with an "underperform" designation and a target price of $25.00 on November 15. In summary, one analyst rated the stock as a sell, eight assigned hold ratings, six recommended a buy, and two suggested a strong buy. Pfizer currently holds a consensus rating of "Moderate Buy" with an average target price of $32.92 according to MarketBeat.

Current Trading Performance

The financial metrics for Pfizer include a quick ratio of 0.73, a current ratio of 1.00, and a debt-to-equity ratio of 0.63. The company's market capitalization stands at $143.03 billion, with a price-to-earnings (P/E) ratio of 34.14 and a price-to-earnings growth (PEG) ratio of 0.70. Notably, Pfizer shares have a 50-day moving average of $27.68 and a 200-day moving average of $28.45.

Recent Earnings Report

In its latest earnings report, released on October 29, Pfizer announced earnings per share (EPS) of $1.06, surpassing the consensus estimate of $0.64 by $0.42. The company's revenue for the quarter reached $17.70 billion, exceeding analyst expectations of $14.92 billion. Pfizer demonstrated strong financial health with a net margin of 7.07% and a return on equity of 16.28%. Revenue growth showed an impressive increase of 31.2% year-over-year, contrasting with a loss of ($0.17) EPS reported in the same quarter last year. Analysts project that Pfizer will report EPS of 2.95 for the current fiscal year.

Dividend Announcement

Pfizer also declared a quarterly dividend, which was distributed on December 2. Shareholders recorded on November 8 received a dividend of $0.42 per share, marking an annualized dividend of $1.68 and a dividend yield of 6.66%. Pfizer's dividend payout ratio is currently at a high 227.03%.

Insider Activity

In a related update, Pfizer's Director Scott Gottlieb acquired 1,000 shares of the company's stock on October 30, at an average price of $28.24 per share, amounting to a total investment of $28,240. Following this transaction, Gottlieb now holds 10,000 shares valued at approximately $282,400, which represents an 11.11% increase in his holdings. This purchase has been documented in filings with the Securities & Exchange Commission, noting that insiders currently own 0.06% of the stock.

Institutional Trading Activity

Recent modifications by hedge funds show changing interest in Pfizer shares. MFA Wealth Advisors LLC made a new investment in Pfizer worth around $29,000 during the second quarter. Gladius Capital Management LP increased its holdings by 102.8% in the third quarter, bringing its total to 1,043 shares valued at $30,000 after acquiring an additional 38,015 shares. Other notable transactions include Quarry LP and Financial Connections Group Inc. making new stakes in the second quarter, with values totaling approximately $31,000 and $34,000, respectively. Hedge funds and institutional investors collectively own about 68.36% of Pfizer’s stock.

About Pfizer

Pfizer Inc. is engaged in the research, development, manufacturing, marketing, and distribution of biopharmaceutical products globally. The company offers a range of medicines and vaccines targeting various therapeutic areas such as cardiovascular health, migraines, and women's health under brands like Eliquis and Nurtec ODT. Pfizer also addresses infectious diseases through its Prevnar family and develops COVID-19 prevention treatments with products like Comirnaty and Paxlovid.

Pfizer, Stocks, Dividends