Pfizer (NYSE:PFE) PT Raised to $32.00 at Barclays

Pfizer (NYSE:PFE) had its price objective upped by Barclays from $30.00 to $32.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. UBS Group upped their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a neutral rating in a report on Wednesday. Wells Fargo & Company upped their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock an equal weight rating in a report on Wednesday. Cantor Fitzgerald reiterated an overweight rating and issued a $45.00 price objective on shares of Pfizer in a report on Wednesday. Morgan Stanley upped their price objective on shares of Pfizer from $28.00 to $29.00 and gave the stock an equal weight rating in a report on Thursday, May 2nd. Finally, BMO Capital Markets reiterated an outperform rating and issued a $36.00 price objective (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $34.58.

Pfizer Trading Down 2.7 %

NYSE PFE opened at $30.54 on Wednesday. Pfizer has a 1-year low of $25.20 and a 1-year high of $37.19. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $173.06 billion, a PE ratio of -508.92, a price-to-earnings-growth ratio of 1.15 and a beta of 0.69. The firm’s fifty day simple moving average is $28.66 and its 200-day simple moving average is $27.81.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.31%. The business had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. During the same period in the prior year, the business posted $0.67 earnings per share. Pfizer’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pfizer will post 2.55 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.50%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s payout ratio is presently -2,799.53%.

Institutional Investors Weigh In On Pfizer

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

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.