Pfizer (NYSE:PFE) Stock Price Down 0.4% Following Analyst Downgrade

by · The Markets Daily

Shares of Pfizer Inc. (NYSE:PFE – Get Free Report) dropped 0.4% during mid-day trading on Wednesday after Guggenheim lowered their price target on the stock from $35.00 to $33.00. Guggenheim currently has a buy rating on the stock. Pfizer traded as low as $25.32 and last traded at $25.47. Approximately 9,291,981 shares were traded during trading, a decline of 76% from the average daily volume of 38,400,711 shares. The stock had previously closed at $25.57.

PFE has been the subject of several other research reports. Bank of America reissued a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research report on Tuesday. Citigroup assumed coverage on shares of Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price for the company. Sanford C. Bernstein assumed coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. Wolfe Research began coverage on shares of Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 price target for the company. Finally, StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and a consensus target price of $32.43.

View Our Latest Stock Report on Pfizer

Insiders Place Their Bets

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This represents a 11.11 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pfizer

Hedge funds have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. grew its holdings in Pfizer by 3.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 575,334 shares of the biopharmaceutical company’s stock valued at $16,098,000 after purchasing an additional 21,167 shares in the last quarter. Cornerstone Wealth Management LLC boosted its holdings in Pfizer by 13.4% in the second quarter. Cornerstone Wealth Management LLC now owns 72,058 shares of the biopharmaceutical company’s stock valued at $2,016,000 after purchasing an additional 8,513 shares during the last quarter. 180 Wealth Advisors LLC grew its stake in Pfizer by 10.3% during the 2nd quarter. 180 Wealth Advisors LLC now owns 31,424 shares of the biopharmaceutical company’s stock valued at $901,000 after purchasing an additional 2,935 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in Pfizer during the 2nd quarter worth approximately $34,188,000. Finally, AlphaMark Advisors LLC raised its position in shares of Pfizer by 61.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 1,703 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 650 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The company has a market capitalization of $143.15 billion, a PE ratio of 34.31, a PEG ratio of 0.71 and a beta of 0.65. The company has a 50 day moving average price of $27.35 and a 200 day moving average price of $28.33.

Pfizer (NYSE:PFE – Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period last year, the business earned ($0.17) EPS. Equities analysts forecast that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 6.65%. The ex-dividend date was Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

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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