Cantor Fitzgerald Reaffirms “Overweight” Rating for Pfizer (NYSE:PFE)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Pfizer (NYSE:PFE) in a report released on Wednesday, Benzinga reports. They currently have a $45.00 price objective on the biopharmaceutical company’s stock.

Several other brokerages also recently commented on PFE. Wells Fargo & Company lifted their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. UBS Group boosted their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and an average price target of $33.58.

Pfizer Trading Down 0.6 %

Shares of PFE stock opened at $28.46 on Wednesday. The firm has a market capitalization of $161.27 billion, a P/E ratio of -61.87, a P/E/G ratio of 1.01 and a beta of 0.67. Pfizer has a twelve month low of $25.20 and a twelve month high of $31.54. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The stock’s fifty day simple moving average is $29.07 and its 200 day simple moving average is $28.49.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. The firm had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 EPS. As a group, sell-side analysts predict that Pfizer will post 2.67 EPS for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is -365.21%.

Institutional Trading of Pfizer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFE. Olistico Wealth LLC bought a new stake in Pfizer during the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new stake in Pfizer during the 2nd quarter worth approximately $29,000. Quarry LP bought a new stake in Pfizer during the 2nd quarter worth approximately $31,000. Trivant Custom Portfolio Group LLC increased its holdings in Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. bought a new stake in Pfizer during the 2nd quarter worth approximately $34,000. 68.36% of the stock is owned by institutional investors.

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.