Pfizer (NYSE:PFE) Lowered to “Buy” Rating by StockNews.com

StockNews.com downgraded shares of Pfizer (NYSE:PFE) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday morning.

A number of other research firms have also commented on PFE. Barclays raised their price objective on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Wells Fargo & Company upped their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Citigroup initiated coverage on Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target for the company. Wolfe Research started coverage on shares of Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price on the stock. Finally, Sanford C. Bernstein assumed coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.92.

Pfizer Stock Performance

Shares of PFE opened at $25.65 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm has a market cap of $145.36 billion, a PE ratio of 34.66, a PEG ratio of 0.80 and a beta of 0.67. Pfizer has a 1 year low of $24.48 and a 1 year high of $31.54. The stock’s fifty day moving average price is $28.21 and its two-hundred day moving average price is $28.57.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.17) EPS. On average, equities research analysts forecast that Pfizer will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.55%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pfizer

Several hedge funds have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Pfizer during the 1st quarter valued at about $315,000. Edgestream Partners L.P. purchased a new position in shares of Pfizer during the 1st quarter worth $243,000. EP Wealth Advisors LLC grew its position in shares of Pfizer by 0.9% during the 1st quarter. EP Wealth Advisors LLC now owns 336,062 shares of the biopharmaceutical company’s stock valued at $9,326,000 after acquiring an additional 2,864 shares during the period. Stonebridge Capital Advisors LLC increased its stake in shares of Pfizer by 35.2% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 26,586 shares of the biopharmaceutical company’s stock worth $738,000 after purchasing an additional 6,921 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in Pfizer by 123.9% during the first quarter. Gamco Investors INC. ET AL now owns 533,251 shares of the biopharmaceutical company’s stock valued at $14,798,000 after purchasing an additional 295,139 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

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.