Pfizer (NYSE:PFE) Stock Rating Upgraded by Evercore ISI

Evercore ISI upgraded shares of Pfizer (NYSE:PFE) to a strong-buy rating in a report published on Wednesday, Zacks.com reports.

Several other brokerages have also recently issued reports on PFE. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Barclays lifted their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company raised their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and an average price target of $33.58.

Pfizer Price Performance

Pfizer stock opened at $28.09 on Wednesday. The company has a market cap of $159.18 billion, a price-to-earnings ratio of 37.96, a PEG ratio of 0.90 and a beta of 0.67. The firm’s fifty day moving average is $29.03 and its 200 day moving average is $28.59. 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 $31.54.

Pfizer (NYSE:PFE) last announced its earnings results 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 net margin of 7.07% and a return on equity of 16.40%. The business had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. Sell-side analysts forecast that Pfizer will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 5.98%. Pfizer’s payout ratio is 227.03%.

Insiders Place Their Bets

In other news, Director Scott Gottlieb bought 1,000 shares of Pfizer stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by insiders.

Institutional Investors Weigh In On Pfizer

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Olistico Wealth LLC acquired a new position in shares of Pfizer in the second quarter valued at approximately $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Pfizer in the second quarter valued at approximately $29,000. Quarry LP acquired a new position in shares of Pfizer in the second quarter valued at approximately $31,000. Financial Connections Group Inc. acquired a new position in shares of Pfizer in the second quarter valued at approximately $34,000. Finally, ESL Trust Services LLC acquired a new position in Pfizer during the 1st quarter worth approximately $37,000. 68.36% of the stock is owned by hedge funds and other 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.