Pfizer (NYSE:PFE) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Pfizer (NYSE:PFE) from a buy rating to a strong-buy rating in a research report report published on Tuesday morning.

Several other analysts have also recently issued reports on the company. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. UBS Group boosted their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Citigroup started coverage on shares of Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target on the stock. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.92.

Pfizer Price Performance

Shares of NYSE PFE opened at $24.80 on Tuesday. The business has a 50 day moving average price of $28.64 and a two-hundred day moving average price of $28.64. Pfizer has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The firm has a market cap of $140.54 billion, a PE ratio of 33.51, a price-to-earnings-growth ratio of 0.85 and a beta of 0.67. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. Sell-side analysts expect that Pfizer will post 2.96 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.77%. Pfizer’s dividend payout ratio (DPR) is 227.03%.

Insider Activity at Pfizer

In other 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 acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 11.11 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Olistico Wealth LLC acquired a new stake in Pfizer during the second quarter valued at approximately $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Pfizer during the second quarter valued at $29,000. Gladius Capital Management LP boosted its position in shares of Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 38,015 shares during the period. Quarry LP acquired a new stake in Pfizer during the 2nd quarter worth about $31,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Pfizer in the second quarter worth about $34,000. 68.36% of the stock is 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.