Shares of Pfizer Inc. (NYSE:PFE) dropped 7.1% on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $37.00 to $36.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Pfizer traded as low as $34.91 and last traded at $35.46, approximately 72,936,628 shares changed hands during mid-day trading. An increase of 148% from the average daily volume of 29,408,492 shares. The stock had previously closed at $38.19.

Other analysts have also issued research reports about the company. Standpoint Research upgraded Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Cantor Fitzgerald reiterated a “buy” rating and issued a $53.00 target price on shares of Pfizer in a research note on Thursday, March 19th. Zacks Investment Research lowered Pfizer from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a research note on Monday, May 4th. Barclays increased their target price on Pfizer from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. Finally, Morgan Stanley reduced their target price on Pfizer from $43.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 2nd. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Pfizer presently has a consensus rating of “Hold” and an average price target of $41.19.

In related news, major shareholder Pfizer Inc acquired 312,500 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were bought at an average price of $16.00 per share, with a total value of $5,000,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Douglas M. Lankler sold 65,000 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $37.85, for a total value of $2,460,250.00. Following the sale, the executive vice president now directly owns 135,375 shares in the company, valued at approximately $5,123,943.75. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

A number of hedge funds have recently modified their holdings of PFE. Soltis Investment Advisors LLC acquired a new stake in Pfizer in the fourth quarter worth about $553,000. FMR LLC boosted its holdings in Pfizer by 2.9% in the fourth quarter. FMR LLC now owns 7,776,073 shares of the biopharmaceutical company’s stock worth $304,668,000 after acquiring an additional 221,248 shares in the last quarter. Capital Square LLC acquired a new stake in Pfizer in the fourth quarter worth about $738,000. Shoker Investment Counsel Inc. raised its stake in shares of Pfizer by 1.1% in the fourth quarter. Shoker Investment Counsel Inc. now owns 42,060 shares of the biopharmaceutical company’s stock worth $1,647,000 after purchasing an additional 446 shares during the last quarter. Finally, Affinity Investment Advisors LLC purchased a new position in shares of Pfizer in the fourth quarter worth about $305,000. 70.28% of the stock is currently owned by institutional investors.

The stock has a market capitalization of $212.14 billion, a PE ratio of 12.66, a PEG ratio of 2.79 and a beta of 0.70. The company has a quick ratio of 0.78, a current ratio of 1.02 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average price of $37.10 and a 200-day moving average price of $36.82.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.09. Pfizer had a return on equity of 25.76% and a net margin of 31.17%. The firm had revenue of $12.03 billion during the quarter, compared to analysts’ expectations of $11.38 billion. During the same period last year, the business posted $0.85 earnings per share. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. Equities analysts expect that Pfizer Inc. will post 2.8 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Thursday, May 7th. Pfizer’s payout ratio is 51.53%.

About Pfizer (NYSE:PFE)

Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases under the Lyrica, Chantix/Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel, Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF/Xyntha brands.

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