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

Cantor Fitzgerald reaffirmed their overweight rating on shares of Pfizer (NYSE:PFE) in a report issued on Monday morning, Benzinga reports. They currently have a $45.00 price objective on the biopharmaceutical company’s stock.

Several other equities analysts also recently commented on PFE. 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 note on Thursday, May 2nd. UBS Group boosted their target price on shares of Pfizer from $30.00 to $31.00 and gave the stock a neutral rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a hold rating to a buy rating in a research note on Thursday, August 1st. Morgan Stanley boosted their target price on shares of Pfizer from $28.00 to $29.00 and gave the stock an equal weight rating in a research note on Thursday, May 2nd. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a neutral rating to an outperform rating and boosted their target price for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $34.54.

Pfizer Stock Performance

NYSE:PFE opened at $29.02 on Monday. The company has a fifty day simple moving average of $28.80 and a two-hundred day simple moving average of $27.94. The company has a market cap of $164.42 billion, a price-to-earnings ratio of -483.58, a price-to-earnings-growth ratio of 1.00 and a beta of 0.69. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. Pfizer has a 52 week low of $25.20 and a 52 week high of $37.15.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.67 earnings per share. As a group, equities analysts anticipate that Pfizer will post 2.68 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.79%. Pfizer’s dividend payout ratio (DPR) is -2,800.00%.

Institutional Investors Weigh In On Pfizer

Several hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in shares of 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 during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 during the period. Norges Bank acquired a new stake in Pfizer in the fourth quarter valued at about $2,129,927,000. Massachusetts Financial Services Co. MA lifted its position in Pfizer by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after purchasing an additional 2,241,609 shares during the period. Finally, Van ECK Associates Corp lifted its position in Pfizer by 1.8% in the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock valued at $450,593,000 after purchasing an additional 290,760 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

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.