Bank of America Cuts Pfizer (NYSE:PFE) Price Target to $28.00

Pfizer (NYSE:PFE) had its price objective cut by Bank of America from $29.00 to $28.00 in a report released on Monday morning,Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued reports about the company. Wall Street Zen downgraded Pfizer from a “buy” rating to a “hold” rating in a report on Sunday, September 28th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $30.00 target price on shares of Pfizer in a research note on Friday, October 31st. Citigroup started coverage on shares of Pfizer in a research note on Tuesday, December 2nd. They set a “neutral” rating and a $26.00 target price for the company. Guggenheim upped their price target on shares of Pfizer from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 24th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Pfizer in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $28.06.

Pfizer Price Performance

Pfizer stock opened at $25.05 on Monday. Pfizer has a 12-month low of $20.92 and a 12-month high of $27.69. The company has a current ratio of 1.28, a quick ratio of 0.97 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $25.09 and a 200-day moving average price of $24.82. The firm has a market capitalization of $142.43 billion, a PE ratio of 14.56 and a beta of 0.46.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.79 by $0.08. The company had revenue of $16.65 billion for the quarter, compared to the consensus estimate of $16.94 billion. Pfizer had a net margin of 15.65% and a return on equity of 20.17%. Pfizer has set its FY 2025 guidance at 3.000-3.150 EPS. As a group, equities research analysts forecast that Pfizer will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, January 23rd will be issued a $0.43 dividend. The ex-dividend date is Friday, January 23rd. This represents a $1.72 annualized dividend and a dividend yield of 6.9%. Pfizer’s payout ratio is currently 100.00%.

Hedge Funds Weigh In On Pfizer

A number of hedge funds and other institutional investors have recently modified their holdings of PFE. GKV Capital Management Co. Inc. purchased a new position in Pfizer in the first quarter valued at about $27,000. Curio Wealth LLC raised its holdings in shares of Pfizer by 36,600.0% during the second quarter. Curio Wealth LLC now owns 1,101 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,098 shares during the last quarter. Bayforest Capital Ltd acquired a new position in shares of Pfizer in the 1st quarter valued at about $28,000. Harbor Asset Planning Inc. purchased a new stake in Pfizer during the second quarter worth $29,000. Finally, Grey Fox Wealth Advisors LLC acquired a new stake in shares of Pfizer during the 3rd quarter valued at about $29,000. 68.36% of the stock is currently owned by institutional investors.

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.