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 reached a low of $25.21 before closing at $25.26. A total of approximately 9,179,062 shares were exchanged, representing a significant drop of 76% from the usual daily volume of 38,366,023 shares. Previously, the stock had closed at $25.56.

Changes in Analyst Ratings

Recently, several analysts have updated their views regarding Pfizer's stock. On August 7, Daiwa America upgraded Pfizer from a "moderate buy" rating to a "strong-buy" rating. In contrast, StockNews.com reduced its rating from "strong-buy" to "buy" on November 20. Meanwhile, Cantor Fitzgerald maintained an "overweight" rating with a target price of $45.00 in their report on October 23. Additionally, Daiwa Capital Markets elevated Pfizer from a "neutral" rating to an "outperform" rating, increasing their price target from $28.00 to $34.00 on August 7. Wolfe Research also began its coverage of Pfizer, assigning an "underperform" rating with a target price of $25.00 on November 15. Overall, one analyst has rated Pfizer as a sell, eight have assigned a hold rating, six have given a buy rating, while two have classified it as a strong buy. MarketBeat suggests that Pfizer currently holds a consensus rating of "Moderate Buy" with an average target price of $32.92.

Current Trading Trends

The company showcases a quick ratio of 0.73, a current ratio of 1.00, and a debt-to-equity ratio of 0.63. Pfizer maintains a market capitalization of $143.03 billion with a price-to-earnings (P/E) ratio of 34.14, a price/earnings to growth (PEG) ratio of 0.70, and a beta of 0.65. The stock's 50-day moving average is $27.68, while the 200-day moving average stands at $28.45.

Latest Earnings Report

On October 29, Pfizer released its latest earnings report, announcing earnings of $1.06 per share (EPS) for the quarter, surpassing the consensus estimate of $0.64 by $0.42. In terms of revenue, the company generated $17.70 billion for the quarter, significantly exceeding analyst expectations of $14.92 billion. Pfizer's net margin was recorded at 7.07%, with a return on equity of 16.28%. When comparing year-over-year results, Pfizer's revenue rose by 31.2%, improving from a previous year's EPS of ($0.17). Analysts anticipate that Pfizer will report an EPS of 2.95 for the current fiscal year.

Dividend Announcement

Pfizer also recently declared a quarterly dividend, which was distributed on December 2. Shareholders recorded on November 8 received a dividend of $0.42 per share. The ex-dividend date was set for November 8, indicating an annualized dividend of $1.68, yielding a dividend yield of 6.66%. Currently, Pfizer's dividend payout ratio is reported at 227.03%.

Insider Activity

In related news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock on October 30, with the shares acquired at an average price of $28.24 each, amounting to a total investment of $28,240. Following this transaction, Gottlieb’s total ownership in the company increased to 10,000 shares, valued at roughly $282,400. Insider ownership constitutes approximately 0.06% of the total stock.

Institutional Investors

Recent changes in hedge fund ownership of Pfizer shares have been noted. MFA Wealth Advisors LLC acquired a new position in Pfizer during the 2nd quarter valued around $29,000. Gladius Capital Management LP increased its holdings in Pfizer by 102.8% during the 3rd quarter, now owning 1,043 shares worth $30,000 after adding an additional 38,015 shares. Quarry LP also bought a new stake in the 2nd quarter worth about $31,000, while Financial Connections Group Inc. and Teachers Insurance & Annuity Association of America acquired stakes worth approximately $34,000 and $35,000 in the 2nd and 3rd quarters, respectively. Altogether, hedge funds and other institutional investors hold about 68.36% of Pfizer’s stock.

About Pfizer Inc.

Pfizer Inc. is engaged in discovering, developing, manufacturing, marketing, distributing, and selling biopharmaceutical products across the United States, Europe, and internationally. The company provides a range of medicines and vaccines targeting various therapeutic areas including cardiovascular health, migraine treatment, and women's health under brand names like Eliquis and Nurtec ODT/Vydura. Their portfolio also addresses infectious diseases with unmet medical needs through brands such as Prevnar and Abrysvo, as well as offering COVID-19 prevention and treatment options like Comirnaty and Paxlovid.

Pfizer, Stocks, Trading