Pfizer (NYSE:PFE) Stock Price Down 3.3% After Analyst Downgrade

Shares of Pfizer Inc. (NYSE:PFE) were down 3.3% on Tuesday after Bank of America lowered their price target on the stock from $29.00 to $28.00. Bank of America currently has a neutral rating on the stock. Pfizer traded as low as $24.92 and last traded at $25.5630. Approximately 110,937,503 shares traded hands during mid-day trading, an increase of 116% from the average daily volume of 51,420,578 shares. The stock had previously closed at $26.43.

A number of other research analysts have also commented on the company. Sanford C. Bernstein reiterated a “market perform” rating and set a $30.00 price target on shares of Pfizer in a report on Friday, October 31st. The Goldman Sachs Group reiterated a “neutral” rating and set a $26.00 target price on shares of Pfizer in a research note on Wednesday, November 5th. Citigroup began coverage on shares of Pfizer in a report on Tuesday, December 2nd. They issued a “neutral” rating and a $26.00 price target for the company. UBS Group restated a “neutral” rating and set a $28.00 price objective on shares of Pfizer in a report on Wednesday, October 1st. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Pfizer in a research report on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Pfizer currently has an average rating of “Hold” and an average target price of $28.22.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. GKV Capital Management Co. Inc. bought a new position in Pfizer in the 1st quarter valued at $27,000. Curio Wealth LLC increased its stake in shares of Pfizer by 36,600.0% in the second quarter. Curio Wealth LLC now owns 1,101 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 1,098 shares in the last quarter. Bayforest Capital Ltd bought a new position in shares of Pfizer in the first quarter valued at about $28,000. Harbor Asset Planning Inc. acquired a new position in Pfizer during the 2nd quarter worth about $29,000. Finally, Grey Fox Wealth Advisors LLC bought a new stake in Pfizer during the 3rd quarter worth about $29,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Down 3.3%

The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.97 and a current ratio of 1.28. The stock has a market cap of $145.34 billion, a price-to-earnings ratio of 14.86 and a beta of 0.46. The firm’s 50-day simple moving average is $25.12 and its two-hundred day simple moving average is $24.80.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The company had revenue of $16.65 billion for the quarter, compared to analyst estimates of $16.94 billion. Pfizer had a net margin of 15.65% and a return on equity of 20.17%. Pfizer has set its FY 2025 guidance at 3.000-3.150 EPS. On average, sell-side analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, January 23rd will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 6.7%. The ex-dividend date is Friday, January 23rd. Pfizer’s dividend payout ratio is currently 100.00%.

About Pfizer

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.