Morgan Stanley Raises Pfizer (NYSE:PFE) Price Target to $29.00

Pfizer (NYSE:PFE) had its price target boosted by Morgan Stanley from $28.00 to $29.00 in a research report report published on Thursday, Benzinga reports. They currently have an equal weight rating on the biopharmaceutical company’s stock.

Several other research analysts have also recently issued reports on PFE. Cantor Fitzgerald reaffirmed an overweight rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday, April 15th. Argus lowered Pfizer from a buy rating to a hold rating in a report on Friday, March 22nd. TD Cowen lowered shares of Pfizer from an outperform rating to a market perform rating and set a $32.00 price objective on the stock. in a research report on Thursday, January 4th. BMO Capital Markets restated an outperform rating and set a $36.00 price objective (up previously from $33.00) on shares of Pfizer in a research report on Thursday. Finally, Guggenheim began coverage on shares of Pfizer in a report on Friday, February 23rd. They issued a buy rating and a $36.00 target price on the stock. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer presently has a consensus rating of Hold and an average price target of $36.00.

Pfizer Trading Up 0.4 %

NYSE PFE opened at $27.81 on Thursday. Pfizer has a one year low of $25.20 and a one year high of $40.37. The firm has a 50 day simple moving average of $26.88 and a 200-day simple moving average of $28.21. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.26. Pfizer had a positive return on equity of 8.58% and a negative net margin of 0.56%. The company had revenue of $14.88 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the prior year, the business earned $1.23 EPS. Pfizer’s revenue was down 19.5% on a year-over-year basis. As a group, equities analysts forecast that Pfizer will post 2.39 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.04%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s payout ratio is -2,799.53%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Monte Financial Group LLC raised its stake in Pfizer by 8.1% during the third quarter. Monte Financial Group LLC now owns 139,735 shares of the biopharmaceutical company’s stock worth $4,635,000 after purchasing an additional 10,491 shares during the period. Beach Investment Counsel Inc. PA grew its position in Pfizer by 5.2% during the third quarter. Beach Investment Counsel Inc. PA now owns 122,146 shares of the biopharmaceutical company’s stock valued at $4,052,000 after acquiring an additional 5,986 shares during the period. Sippican Capital Advisors increased its stake in Pfizer by 10.9% during the third quarter. Sippican Capital Advisors now owns 49,487 shares of the biopharmaceutical company’s stock worth $1,641,000 after acquiring an additional 4,873 shares during the last quarter. VeraBank N.A. raised its holdings in shares of Pfizer by 1.1% in the 3rd quarter. VeraBank N.A. now owns 41,152 shares of the biopharmaceutical company’s stock worth $1,365,000 after purchasing an additional 459 shares during the period. Finally, Horizon Bancorp Inc. IN raised its holdings in shares of Pfizer by 1.0% in the 3rd quarter. Horizon Bancorp Inc. IN now owns 104,964 shares of the biopharmaceutical company’s stock worth $3,482,000 after purchasing an additional 998 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.