Guggenheim Cuts Pfizer (NYSE:PFE) Price Target to $33.00

Pfizer (NYSE:PFE) had its price target cut by Guggenheim from $35.00 to $33.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other brokerages also recently weighed in on PFE. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. Wolfe Research began coverage on Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price on the stock. Sanford C. Bernstein assumed coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. Finally, StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.43.

Pfizer Stock Up 0.8 %

Shares of NYSE:PFE opened at $25.58 on Wednesday. The firm has a fifty day moving average price of $27.17 and a two-hundred day moving average price of $28.27. The company has a market cap of $144.96 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 0.63 and a beta of 0.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. Pfizer has a one year low of $24.48 and a one year high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.17) earnings per share. Analysts anticipate that Pfizer will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 6.72%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio is 227.03%.

Insider Transactions at Pfizer

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $282,400. The trade was a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by company insiders.

Institutional Trading of Pfizer

Several large investors have recently added to or reduced their stakes in PFE. FAS Wealth Partners Inc. increased its position in shares of Pfizer by 1.3% during the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock valued at $736,000 after buying an additional 342 shares during the period. Sachetta LLC raised its position in shares of Pfizer by 7.3% in the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after acquiring an additional 342 shares in the last quarter. Wells Trecaso Financial Group LLC lifted its stake in shares of Pfizer by 2.5% in the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after purchasing an additional 350 shares during the period. Secure Asset Management LLC boosted its position in shares of Pfizer by 0.6% during the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock valued at $1,632,000 after purchasing an additional 353 shares in the last quarter. Finally, Continuum Advisory LLC grew its stake in Pfizer by 1.5% in the second quarter. Continuum Advisory LLC now owns 25,185 shares of the biopharmaceutical company’s stock worth $705,000 after purchasing an additional 360 shares during the period. 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.