Pfizer (NYSE:PFE) Stock Price Down 0.4% – Should You Sell?

by · The Cerbat Gem

Pfizer Inc. (NYSE:PFE – Get Free Report) dropped 0.4% during trading on Thursday . The stock traded as low as $28.31 and last traded at $28.40. Approximately 5,187,743 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 37,063,160 shares. The stock had previously closed at $28.52.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PFE. UBS Group raised their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Barclays boosted their price objective on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. Finally, Sanford C. Bernstein started coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.58.

Get Our Latest Stock Report on PFE

Pfizer Price Performance

The company has a market capitalization of $161.61 billion, a price-to-earnings ratio of 38.38, a P/E/G ratio of 0.99 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The firm’s fifty day moving average price is $29.06 and its 200-day moving average price is $28.56.

Pfizer (NYSE:PFE – Get Free Report) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.17) EPS. Sell-side analysts expect that Pfizer Inc. will post 2.67 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is presently 227.03%.

Institutional Trading of Pfizer

A number of large investors have recently bought and sold shares of PFE. LGT Group Foundation lifted its stake in Pfizer by 2.5% in the second quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after buying an additional 18,274 shares during the period. Creative Planning boosted its stake in Pfizer by 17.1% during the third quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock worth $52,692,000 after acquiring an additional 266,167 shares in the last quarter. ORG Partners LLC grew its holdings in Pfizer by 1,729.9% in the second quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after purchasing an additional 44,458 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Pfizer by 10.3% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 256,460 shares of the biopharmaceutical company’s stock valued at $7,422,000 after purchasing an additional 23,928 shares in the last quarter. Finally, Everett Harris & Co. CA raised its holdings in shares of Pfizer by 21.7% during the third quarter. Everett Harris & Co. CA now owns 218,344 shares of the biopharmaceutical company’s stock valued at $6,319,000 after purchasing an additional 38,870 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

About Pfizer

(Get Free Report)

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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