Pfizer (NYSE:PFE) Coverage Initiated by Analysts at Wolfe Research

Wolfe Research initiated coverage on shares of Pfizer (NYSE:PFE) in a report issued on Friday, Marketbeat.com reports. The firm issued an underperform rating and a $25.00 price objective on the biopharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company lifted their target price on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Barclays raised their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Citigroup initiated coverage on Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective on the stock. Finally, UBS Group lifted 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.92.

Pfizer Stock Down 4.7 %

Shares of Pfizer stock traded down $1.22 during midday trading on Friday, hitting $24.80. The company’s stock had a trading volume of 131,074,383 shares, compared to its average volume of 38,229,605. Pfizer has a 1-year low of $24.48 and a 1-year 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 firm has a market capitalization of $140.54 billion, a P/E ratio of 33.51, a PEG ratio of 0.85 and a beta of 0.67. The stock has a 50-day simple moving average of $28.64 and a 200-day simple moving average of $28.64.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.17) EPS. As a group, sell-side analysts expect that Pfizer will post 2.96 earnings per share for the current year.

Pfizer Announces Dividend

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

Insider Transactions at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

Large investors have recently added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new position in shares of Pfizer in the second quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Pfizer in the 2nd quarter valued at $29,000. Gladius Capital Management LP lifted its holdings in shares of Pfizer by 102.8% during the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 38,015 shares during the period. Quarry LP acquired a new stake in shares of Pfizer during the 2nd quarter valued at about $31,000. Finally, Financial Connections Group Inc. bought a new stake in Pfizer in the second quarter valued at about $34,000. Institutional investors and hedge funds 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.