Citigroup Initiates Coverage on Pfizer (NYSE:PFE)

Citigroup initiated coverage on shares of Pfizer (NYSE:PFE) in a report published on Friday, MarketBeat reports. The brokerage issued a neutral rating and a $30.00 price objective on the biopharmaceutical company’s stock.

PFE has been the subject of a number of other reports. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Wednesday, October 23rd. Barclays boosted their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Sanford C. Bernstein assumed coverage on Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective on the stock. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Price Performance

PFE opened at $28.87 on Friday. The company has a fifty day moving average price of $29.08 and a two-hundred day moving average price of $28.54. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The firm has a market capitalization of $163.60 billion, a PE ratio of -62.76, a P/E/G ratio of 0.99 and a beta of 0.67. Pfizer has a 52 week low of $25.20 and a 52 week high of $31.54.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter in the prior year, the company posted $0.67 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. As a group, analysts anticipate that Pfizer will post 2.67 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. Investors of record on Friday, November 8th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is currently -365.21%.

Institutional Investors Weigh In On Pfizer

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Olistico Wealth LLC bought a new stake in Pfizer during the second quarter worth about $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Pfizer during the 2nd quarter worth approximately $29,000. Quarry LP acquired a new stake in shares of Pfizer in the 2nd quarter valued at approximately $31,000. Trivant Custom Portfolio Group LLC grew its stake in shares of Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. acquired a new position in Pfizer during the second quarter worth $34,000. 68.36% of the stock is owned by 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.