Pfizer (NYSE:PFE) Price Target Cut to $32.00 by Analysts at Truist Financial

Pfizer (NYSE:PFE) had its price objective reduced by Truist Financial from $36.00 to $32.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the stock. Guggenheim decreased their price objective on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Sanford C. Bernstein initiated coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Wolfe Research started coverage on Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective on the stock. Citigroup began coverage on Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective for the company. Finally, Bank of America reiterated a “neutral” rating and set a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and a consensus target price of $32.14.

Pfizer Stock Down 2.0 %

PFE stock opened at $25.89 on Wednesday. The firm has a market capitalization of $146.72 billion, a PE ratio of 34.99, a P/E/G ratio of 0.63 and a beta of 0.65. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer has a twelve month low of $24.48 and a twelve month high of $31.54. The stock’s 50 day moving average is $26.95 and its 200-day moving average is $28.22.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same period last year, the business earned ($0.17) EPS. The business’s revenue was up 31.2% on a year-over-year basis. Sell-side analysts expect that Pfizer will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is 232.43%.

Insider Buying and Selling

In other news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were acquired at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by company insiders.

Institutional Trading of Pfizer

Several hedge funds have recently added to or reduced their stakes in PFE. FAS Wealth Partners Inc. increased its stake in shares of Pfizer by 1.3% in the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after buying an additional 342 shares during the period. Sachetta LLC raised its stake in shares of Pfizer by 7.3% during the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock valued at $140,000 after acquiring an additional 342 shares during the last quarter. Wells Trecaso Financial Group LLC boosted its holdings in shares of Pfizer by 2.5% during the third quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock worth $416,000 after purchasing an additional 350 shares during the period. Secure Asset Management LLC grew its stake in shares of Pfizer by 0.6% in the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after purchasing an additional 353 shares during the last quarter. Finally, Washington Trust Advisors Inc. grew its position in shares of Pfizer by 0.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock worth $1,424,000 after buying an additional 360 shares during the last quarter. 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.