Pfizer (NYSE:PFE) Upgraded at Evercore ISI

Evercore ISI upgraded shares of Pfizer (NYSE:PFE) to a strong-buy rating in a research report report published on Wednesday, Zacks.com reports.

PFE has been the topic of several other research reports. 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 report on Wednesday, July 31st. Citigroup began coverage on shares of Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target for the company. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. Finally, StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Price Performance

PFE stock opened at $28.08 on Wednesday. The firm has a market cap of $159.12 billion, a price-to-earnings ratio of 37.95, a PEG ratio of 0.90 and a beta of 0.67. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. Pfizer has a 12-month low of $25.20 and a 12-month high of $31.54. The company’s fifty day simple moving average is $29.03 and its 200 day simple moving average is $28.57.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.42. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.40%. Pfizer’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 earned ($0.17) earnings per share. On average, analysts expect that Pfizer will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.98%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is presently 227.03%.

Insider Buying and Selling

In other news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $282,400. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFE. Olistico Wealth LLC purchased a new position in Pfizer in the second quarter valued at about $25,000. MFA Wealth Advisors LLC purchased a new position in Pfizer in the second quarter valued at about $29,000. Quarry LP purchased a new position in Pfizer in the second quarter valued at about $31,000. Financial Connections Group Inc. purchased a new position in Pfizer in the second quarter valued at about $34,000. Finally, ESL Trust Services LLC purchased a new position in Pfizer in the first quarter valued at about $37,000. 68.36% of the stock is currently owned by hedge funds and other 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.