Cantor Fitzgerald restated their overweight rating on shares of Pfizer (NYSE:PFE – Free Report) in a research report released on Wednesday morning, Benzinga reports. The firm currently has a $45.00 price target on the biopharmaceutical company’s stock.
A number of other research analysts have also weighed in on the company. Citigroup decreased their target price on Pfizer from $42.00 to $35.00 and set a neutral rating on the stock in a report on Monday, October 16th. Barclays decreased their price objective on Pfizer from $34.00 to $28.00 and set an equal weight rating on the stock in a report on Thursday, December 14th. Truist Financial decreased their price objective on Pfizer from $42.00 to $36.00 and set a buy rating on the stock in a report on Thursday, December 14th. TD Cowen lowered Pfizer from an outperform rating to a market perform rating and set a $32.00 target price on the stock. in a report on Thursday, January 4th. Finally, Jefferies Financial Group raised Pfizer from a hold rating to a buy rating and increased their target price for the stock from $38.00 to $39.00 in a report on Monday, October 16th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $37.13.
Pfizer Trading Down 1.4 %
Pfizer (NYSE:PFE – Get Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.29. Pfizer had a return on equity of 10.61% and a net margin of 3.62%. The company had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.37 billion. During the same quarter in the prior year, the business posted $1.14 EPS. The business’s revenue was down 41.3% compared to the same quarter last year. Equities research analysts predict that Pfizer will post 2.22 earnings per share for the current fiscal year.
Pfizer Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, January 26th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.24%. This is an increase from Pfizer’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, January 25th. Pfizer’s dividend payout ratio (DPR) is 466.67%.
Insider Transactions at Pfizer
In related news, Director Scott Gottlieb acquired 3,000 shares of the stock in a transaction dated Friday, December 15th. The stock was bought at an average cost of $26.47 per share, for a total transaction of $79,410.00. Following the completion of the transaction, the director now directly owns 9,000 shares of the company’s stock, valued at $238,230. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.05% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Pfizer
Hedge funds have recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. grew its stake in Pfizer by 559.2% during the second quarter. Financial Gravity Asset Management Inc. now owns 501 shares of the biopharmaceutical company’s stock worth $14,919,000 after purchasing an additional 425 shares during the period. Worth Asset Management LLC acquired a new stake in Pfizer in the first quarter valued at approximately $29,000. Briaud Financial Planning Inc acquired a new stake in Pfizer in the third quarter valued at approximately $30,000. Sanctuary Wealth Management L.L.C. acquired a new stake in Pfizer in the fourth quarter valued at approximately $50,000. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Pfizer in the third quarter valued at approximately $34,000. 68.05% of the stock is currently owned by institutional investors.
Pfizer Company Profile
Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, 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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