Pfizer Inc. (NYSE:PFE) Receives $33.91 Average Price Target from Analysts

Pfizer Inc. (NYSE:PFE) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $33.58.

A number of brokerages have commented on PFE. Wells Fargo & Company lifted their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Citigroup started coverage on Pfizer in a report on Friday. They set a “neutral” rating and a $30.00 price target on the stock. Sanford C. Bernstein initiated coverage on Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, UBS Group boosted their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st.

Hedge Funds Weigh In On Pfizer

A number of hedge funds have recently modified their holdings of PFE. Olistico Wealth LLC acquired a new position in shares of Pfizer in the second quarter worth $25,000. MFA Wealth Advisors LLC acquired a new position in Pfizer during the second quarter worth $29,000. Quarry LP bought a new stake in Pfizer during the second quarter valued at about $31,000. Trivant Custom Portfolio Group LLC boosted its holdings in Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 600 shares during the period. Finally, Financial Connections Group Inc. bought a new stake in Pfizer during the second quarter valued at about $34,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Stock Down 0.7 %

Shares of Pfizer stock opened at $28.45 on Friday. The business has a 50-day moving average of $29.08 and a 200-day moving average of $28.51. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The company has a market capitalization of $161.22 billion, a PE ratio of -61.85, a P/E/G ratio of 1.01 and a beta of 0.67. Pfizer has a 1-year low of $25.20 and a 1-year high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion during 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 company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.67 earnings per share. As a group, equities analysts forecast that Pfizer will post 2.67 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently -365.21%.

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.