Pfizer (NYSE:PFE) Given New $31.00 Price Target at UBS Group

Pfizer (NYSE:PFE) had its price target boosted by UBS Group from $30.00 to $31.00 in a report issued on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the biopharmaceutical company’s stock.

Several other equities analysts have also recently weighed in on the company. Cantor Fitzgerald reiterated an overweight rating and set a $45.00 price objective on shares of Pfizer in a report on Wednesday. Barclays lifted their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an equal weight rating in a report on Wednesday, July 10th. Morgan Stanley increased their price target on Pfizer from $28.00 to $29.00 and gave the stock an equal weight rating in a research report on Thursday, May 2nd. Finally, BMO Capital Markets reiterated an outperform rating and issued a $36.00 target price (up previously from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $34.58.

Pfizer Stock Performance

NYSE PFE opened at $30.43 on Wednesday. Pfizer has a 52-week low of $25.20 and a 52-week high of $37.19. The firm has a market capitalization of $172.43 billion, a price-to-earnings ratio of -507.08, a P/E/G ratio of 1.07 and a beta of 0.69. The company’s fifty day moving average is $28.73 and its two-hundred day moving average is $27.84. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.31% and a negative net margin of 4.66%. The firm had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same period in the prior year, the business posted $0.67 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts forecast that Pfizer will post 2.68 EPS for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.52%. Pfizer’s payout ratio is -2,799.53%.

Institutional Trading of Pfizer

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Argus Investors Counsel Inc. increased its stake in Pfizer by 17.2% in the 4th quarter. Argus Investors Counsel Inc. now owns 43,315 shares of the biopharmaceutical company’s stock worth $1,247,000 after acquiring an additional 6,350 shares during the last quarter. Addenda Capital Inc. boosted its holdings in Pfizer by 29.7% during the 4th quarter. Addenda Capital Inc. now owns 198,325 shares of the biopharmaceutical company’s stock valued at $5,710,000 after acquiring an additional 45,380 shares during the period. Integrated Investment Consultants LLC grew its holdings in Pfizer by 21.8% in the 4th quarter. Integrated Investment Consultants LLC now owns 26,730 shares of the biopharmaceutical company’s stock worth $770,000 after acquiring an additional 4,779 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its position in shares of Pfizer by 3.1% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 241,092 shares of the biopharmaceutical company’s stock valued at $6,941,000 after acquiring an additional 7,305 shares during the period. Finally, Heartland Bank & Trust Co lifted its stake in Pfizer by 64.0% in the fourth quarter. Heartland Bank & Trust Co now owns 13,860 shares of the biopharmaceutical company’s stock worth $399,000 after acquiring an additional 5,409 shares during the period. 68.36% of the stock is currently owned by institutional investors.

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.