Pfizer’s (PFE) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Pfizer (NYSE:PFE) in a report published on Wednesday morning, Benzinga reports. Cantor Fitzgerald currently has a $45.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald also issued estimates for Pfizer’s FY2024 earnings at $2.45 EPS.

Other research analysts have also recently issued research reports about the company. Morgan Stanley increased their price objective on Pfizer from $28.00 to $29.00 and gave the stock an equal weight rating in a research report on Thursday, May 2nd. Barclays increased their price objective on Pfizer from $28.00 to $30.00 and gave the stock an equal weight rating in a research report on Wednesday, July 10th. Finally, BMO Capital Markets restated an outperform rating and issued a $36.00 price target (up previously from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Pfizer currently has a consensus rating of Hold and a consensus price target of $34.58.

Pfizer Trading Down 0.7 %

Shares of Pfizer stock opened at $30.43 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78. The company 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 business has a fifty day simple moving average of $28.73 and a two-hundred day simple moving average of $27.84. Pfizer has a 1 year low of $25.20 and a 1 year high of $37.19.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share 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 analysts’ expectations of $12.96 billion. Pfizer had a positive return on equity of 8.31% and a negative net margin of 4.66%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.67 EPS. Research analysts forecast that Pfizer will post 2.68 EPS for the current year.

Pfizer Dividend Announcement

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

Institutional Investors Weigh In On Pfizer

Several hedge funds and other institutional investors have recently modified their holdings of PFE. Norges Bank bought a new stake in shares of Pfizer during the fourth quarter valued at approximately $2,129,927,000. Wellington Management Group LLP grew its holdings in Pfizer by 4.9% during the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after buying an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Pfizer by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock worth $2,985,783,000 after buying an additional 8,473,686 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Pfizer by 13.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after buying an additional 8,298,920 shares in the last quarter. Finally, Swedbank AB bought a new stake in Pfizer during the first quarter worth $172,902,000. 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.