Pfizer (NYSE:PFE) Shares Down 1.7% – Time to Sell?

Pfizer Inc. (NYSE:PFE) was down 1.7% during trading on Tuesday . The stock traded as low as $25.67 and last traded at $25.72. Approximately 8,793,693 shares traded hands during trading, a decline of 77% from the average daily volume of 38,437,582 shares. The stock had previously closed at $26.17.

Analysts Set New Price Targets

Several research analysts have commented on PFE shares. Wells Fargo & Company lifted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. UBS Group lifted their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.92.

Pfizer Price Performance

The firm has a market capitalization of $146.38 billion, a P/E ratio of 34.91, a P/E/G ratio of 0.83 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The stock’s fifty day simple moving average is $27.97 and its 200 day simple moving average is $28.52.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 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 the consensus estimate of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm’s revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.17) earnings per share. On average, equities research analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

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 issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.50%. Pfizer’s dividend payout ratio is presently 227.03%.

Insiders Place Their Bets

In related news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $282,400. The trade was a 11.11 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pfizer

Several hedge funds have recently modified their holdings of the stock. Peapack Gladstone Financial Corp increased its holdings in shares of Pfizer by 23.9% during the third quarter. Peapack Gladstone Financial Corp now owns 762,976 shares of the biopharmaceutical company’s stock valued at $22,082,000 after acquiring an additional 147,405 shares in the last quarter. Synovus Financial Corp increased its holdings in Pfizer by 11.9% in the 3rd quarter. Synovus Financial Corp now owns 740,727 shares of the biopharmaceutical company’s stock worth $21,437,000 after buying an additional 78,675 shares during the period. Tidal Investments LLC increased its holdings in Pfizer by 13.1% in the 3rd quarter. Tidal Investments LLC now owns 190,628 shares of the biopharmaceutical company’s stock worth $5,517,000 after buying an additional 22,068 shares during the period. Optimist Retirement Group LLC increased its holdings in Pfizer by 0.7% in the 3rd quarter. Optimist Retirement Group LLC now owns 74,337 shares of the biopharmaceutical company’s stock worth $2,151,000 after buying an additional 492 shares during the period. Finally, Destination Wealth Management increased its holdings in Pfizer by 5.9% in the 3rd quarter. Destination Wealth Management now owns 703,928 shares of the biopharmaceutical company’s stock worth $20,372,000 after buying an additional 38,907 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Company Profile

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.