Pfizer (NYSE:PFE) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Pfizer (NYSE:PFE) from a hold rating to a buy rating in a report published on Wednesday morning.

PFE has been the topic of a number of other research reports. Cantor Fitzgerald reaffirmed an overweight rating and set a $45.00 price objective on shares of Pfizer in a research note on Thursday, October 3rd. Daiwa Capital Markets raised shares of Pfizer from a neutral rating to an outperform rating and boosted their price objective for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Wells Fargo & Company upped their price objective 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. UBS Group lifted their target price on shares of Pfizer from $30.00 to $31.00 and gave the stock a neutral rating in a research note on Wednesday, July 31st. Finally, Barclays raised their price objective on Pfizer from $30.00 to $32.00 and gave the stock an equal weight rating in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $34.54.

Pfizer Price Performance

Shares of NYSE PFE opened at $30.20 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The stock has a market cap of $171.10 billion, a price-to-earnings ratio of -503.25, a PEG ratio of 1.23 and a beta of 0.67. The company’s 50-day moving average price is $29.09 and its 200 day moving average price is $28.35. Pfizer has a 52 week low of $25.20 and a 52 week high of $33.92.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. The firm had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 EPS. As a group, research analysts forecast that Pfizer will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.56%. Pfizer’s dividend payout ratio is currently -2,800.00%.

Hedge Funds Weigh In On Pfizer

Several hedge funds and other institutional investors have recently made changes to their positions in PFE. Olistico Wealth LLC purchased a new position in Pfizer in the second quarter valued at about $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Pfizer in the second quarter valued at about $29,000. Quarry LP acquired a new position in Pfizer during the 2nd quarter worth approximately $31,000. Creekmur Asset Management LLC acquired a new position in Pfizer during the 4th quarter worth approximately $32,000. Finally, Trivant Custom Portfolio Group LLC boosted its holdings in Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

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.