Pfizer (NYSE:PFE – Free Report) had its price objective trimmed by Citigroup from $30.00 to $29.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the biopharmaceutical company’s stock.
Several other research firms have also commented on PFE. Sanford C. Bernstein began coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. UBS Group decreased their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Wolfe Research assumed coverage on Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target on the stock. Finally, StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.92.
Read Our Latest Research Report on PFE
Pfizer Stock Up 1.0 %
Pfizer (NYSE:PFE – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the previous year, the firm earned ($0.17) EPS. The business’s revenue was up 31.2% on a year-over-year basis. On average, sell-side analysts forecast that Pfizer will post 2.94 earnings per share for the current year.
Pfizer Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a dividend of $0.43 per share. This is a boost from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.40%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio is currently 227.03%.
Institutional Trading of Pfizer
Institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Pfizer by 11.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after acquiring an additional 12,864,343 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Pfizer by 22.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after purchasing an additional 6,977,587 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Pfizer in the third quarter valued at approximately $146,481,000. Van ECK Associates Corp lifted its stake in shares of Pfizer by 28.5% during the 4th quarter. Van ECK Associates Corp now owns 21,286,805 shares of the biopharmaceutical company’s stock worth $564,739,000 after purchasing an additional 4,726,549 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Pfizer by 164.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company’s stock worth $211,737,000 after buying an additional 4,546,809 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.
Pfizer Company Profile
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.
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