Brokerages Set Pfizer Inc. (NYSE:PFE) Price Target at $32.00

Shares of Pfizer Inc. (NYSE:PFE) have received an average recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $31.92.

A number of analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Bank of America reiterated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a report on Tuesday, December 10th. Citigroup lowered their price target on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday. Truist Financial cut their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd.

Pfizer Stock Up 1.0 %

Shares of PFE opened at $26.89 on Tuesday. Pfizer has a 52-week low of $24.48 and a 52-week high of $31.54. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The business has a fifty day moving average of $26.22 and a 200 day moving average of $27.90. The company has a market cap of $152.41 billion, a PE ratio of 36.34, a P/E/G ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.42. The business had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.17) earnings per share. On average, sell-side analysts expect that Pfizer will post 2.94 EPS for the current year.

Pfizer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be issued a $0.43 dividend. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.40%. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio is 227.03%.

Hedge Funds Weigh In On Pfizer

A number of institutional investors have recently modified their holdings of the stock. Valmark Advisers Inc. increased its holdings in shares of Pfizer by 2.3% during the 4th quarter. Valmark Advisers Inc. now owns 41,716 shares of the biopharmaceutical company’s stock valued at $1,107,000 after purchasing an additional 955 shares in the last quarter. L.M. Kohn & Company increased its holdings in Pfizer by 4.4% in the fourth quarter. L.M. Kohn & Company now owns 37,911 shares of the biopharmaceutical company’s stock valued at $1,006,000 after buying an additional 1,597 shares in the last quarter. Hourglass Capital LLC raised its position in shares of Pfizer by 42.1% in the fourth quarter. Hourglass Capital LLC now owns 397,720 shares of the biopharmaceutical company’s stock worth $10,552,000 after acquiring an additional 117,820 shares during the period. Secured Retirement Advisors LLC purchased a new position in Pfizer during the fourth quarter worth approximately $206,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Pfizer in the fourth quarter valued at approximately $2,281,000. Hedge funds and other 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.