Pfizer (NYSE:PFE) Price Target Cut to $29.00 by Analysts at UBS Group

Pfizer (NYSE:PFE) had its target price trimmed by UBS Group from $31.00 to $29.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the biopharmaceutical company’s stock.

A number of other research analysts have also recently weighed in on PFE. Truist Financial cut their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Citigroup started coverage on Pfizer in a research report 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 report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Pfizer Stock Down 0.8 %

NYSE:PFE opened at $26.92 on Wednesday. The company’s 50 day moving average is $26.23 and its two-hundred day moving average is $28.06. The company has a market cap of $152.56 billion, a PE ratio of 36.38, a P/E/G ratio of 0.63 and a beta of 0.64. Pfizer has a twelve month low of $24.48 and a twelve month high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) 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 firm had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the prior year, the firm earned ($0.17) EPS. The firm’s revenue was up 31.2% on a year-over-year basis. Analysts anticipate that Pfizer will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.39%. The ex-dividend date is Friday, January 24th. This is a boost from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is currently 232.43%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC purchased a new stake in shares of Pfizer in the 2nd quarter valued at approximately $38,000. Acadian Asset Management LLC boosted its position in shares of Pfizer by 3.6% during the second quarter. Acadian Asset Management LLC now owns 326,990 shares of the biopharmaceutical company’s stock worth $9,144,000 after buying an additional 11,246 shares during the period. Quest Partners LLC acquired a new stake in shares of Pfizer in the second quarter valued at $570,000. Sachetta LLC lifted its stake in Pfizer by 7.3% during the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after acquiring an additional 342 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Pfizer by 9.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 638,911 shares of the biopharmaceutical company’s stock valued at $17,876,000 after acquiring an additional 55,442 shares during the period. 68.36% of the stock is currently owned by hedge funds and other 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.