Pfizer (NYSE:PFE) Shares Down 1.9% – What’s Next?

Pfizer Inc. (NYSE:PFE)’s share price dropped 1.9% on Thursday . The stock traded as low as $24.28 and last traded at $24.41. Approximately 51,387,826 shares changed hands during mid-day trading, a decline of 0% from the average daily volume of 51,489,281 shares. The stock had previously closed at $24.88.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PFE shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $26.00 target price on shares of Pfizer in a research note on Wednesday, November 5th. UBS Group reissued a “neutral” rating and issued a $28.00 price target on shares of Pfizer in a report on Wednesday, October 1st. Scotiabank assumed coverage on shares of Pfizer in a research note on Thursday, November 13th. They issued a “sector outperform” rating and a $30.00 price objective on the stock. Bank of America boosted their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Finally, Morgan Stanley reduced their target price on shares of Pfizer from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $28.28.

Pfizer Price Performance

The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a market capitalization of $138.79 billion, a P/E ratio of 12.98, a PEG ratio of 0.81 and a beta of 0.54. The stock’s fifty day moving average is $24.83 and its 200-day moving average is $24.47.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The company had revenue of $16.65 billion during the quarter, compared to analysts’ expectations of $16.94 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%. Pfizer has set its FY 2025 guidance at 3.000-3.150 EPS. On average, equities analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 7.0%. The ex-dividend date is Friday, November 7th. Pfizer’s payout ratio is 100.00%.

Hedge Funds Weigh In On Pfizer

A number of institutional investors have recently modified their holdings of PFE. Vanguard Group Inc. lifted its position in Pfizer by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 533,363,457 shares of the biopharmaceutical company’s stock worth $12,928,730,000 after acquiring an additional 10,198,330 shares during the last quarter. State Street Corp increased its stake in shares of Pfizer by 0.9% in the third quarter. State Street Corp now owns 299,087,408 shares of the biopharmaceutical company’s stock worth $7,620,747,000 after purchasing an additional 2,786,098 shares during the period. Geode Capital Management LLC lifted its position in shares of Pfizer by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 127,471,481 shares of the biopharmaceutical company’s stock worth $3,080,552,000 after purchasing an additional 1,820,634 shares during the last quarter. Norges Bank acquired a new position in shares of Pfizer during the 2nd quarter worth about $2,270,157,000. Finally, Northern Trust Corp boosted its stake in Pfizer by 1.4% during the 3rd quarter. Northern Trust Corp now owns 64,019,807 shares of the biopharmaceutical company’s stock valued at $1,631,225,000 after purchasing an additional 869,175 shares during the period. Institutional investors 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.