BMO Capital Markets set a $39.00 price objective on Pfizer (NYSE:PFE) in a research report report published on Monday, January 8th. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
Several other analysts also recently issued reports on PFE. Morgan Stanley set a $41.00 price objective on Pfizer and gave the company a buy rating in a research report on Friday, January 5th. Nord/LB restated a neutral rating on shares of Pfizer in a research report on Tuesday, January 2nd. UBS Group set a $40.00 price objective on Pfizer and gave the company a buy rating in a research report on Wednesday, December 6th. Deutsche Bank set a $38.00 price objective on Pfizer and gave the company a buy rating in a research report on Wednesday, December 6th. Finally, Vetr upgraded Pfizer from a hold rating to a buy rating and set a $38.82 target price on the stock in a research report on Thursday, November 23rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $38.12.
Pfizer (PFE) opened at $36.93 on Monday. Pfizer has a twelve month low of $30.90 and a twelve month high of $37.37. The firm has a market capitalization of $220,130.00, a price-to-earnings ratio of 22.66, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a current ratio of 1.43, a quick ratio of 1.15 and a debt-to-equity ratio of 0.56.
Pfizer announced that its board has initiated a share repurchase plan on Monday, December 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, February 1st. This is a positive change from Pfizer’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 3.68%. Pfizer’s dividend payout ratio is currently 78.53%.
In other Pfizer news, insider Alexander R. Mackenzie sold 6,750 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $37.00, for a total transaction of $249,750.00. Following the completion of the sale, the insider now owns 103,458 shares in the company, valued at approximately $3,827,946. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Rady A. Johnson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $37.07, for a total value of $296,560.00. Following the sale, the executive vice president now owns 46,963 shares of the company’s stock, valued at approximately $1,740,918.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,450 shares of company stock valued at $1,065,220. Insiders own 0.06% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC lifted its holdings in Pfizer by 243.5% during the 2nd quarter. Janus Henderson Group PLC now owns 13,175,187 shares of the biopharmaceutical company’s stock worth $442,574,000 after buying an additional 9,339,749 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Pfizer by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 418,639,111 shares of the biopharmaceutical company’s stock worth $14,062,088,000 after buying an additional 9,239,499 shares during the last quarter. Renaissance Technologies LLC bought a new position in Pfizer during the 2nd quarter worth approximately $268,389,000. Canada Pension Plan Investment Board lifted its holdings in Pfizer by 249.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 10,713,626 shares of the biopharmaceutical company’s stock worth $359,871,000 after buying an additional 7,649,416 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in Pfizer by 5,413.5% during the 3rd quarter. Stifel Financial Corp now owns 7,360,192 shares of the biopharmaceutical company’s stock worth $262,515,000 after buying an additional 7,226,697 shares during the last quarter. Hedge funds and other institutional investors own 69.79% of the company’s stock.
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Pfizer Company Profile
Pfizer Inc (Pfizer) is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines, as well as consumer healthcare products. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH).
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