Pfizer (NYSE:PFE) Coverage Initiated at Sanford C. Bernstein

Sanford C. Bernstein started coverage on shares of Pfizer (NYSE:PFE) in a research note published on Thursday, Marketbeat reports. The brokerage issued a market perform rating and a $32.00 price target on the biopharmaceutical company’s stock.

PFE has been the topic of several other reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Thursday, October 3rd. Barclays raised their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company increased their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. UBS Group lifted their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Seven equities 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, the company has an average rating of “Moderate Buy” and an average price target of $33.91.

Pfizer Price Performance

NYSE:PFE opened at $29.22 on Thursday. 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 52 week low of $25.20 and a 52 week high of $31.54. The stock’s 50-day moving average price is $29.07 and its 200-day moving average price is $28.45. The stock has a market capitalization of $165.58 billion, a PE ratio of -487.00, a price-to-earnings-growth ratio of 1.02 and a beta of 0.67.

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

Pfizer Announces Dividend

The company also recently declared 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. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 5.75%. Pfizer’s payout ratio is -2,800.00%.

Institutional Investors Weigh In On Pfizer

Several hedge funds and other institutional investors have recently bought and sold shares of PFE. LGT Group Foundation increased its holdings in shares of Pfizer by 2.5% during the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock worth $20,786,000 after buying an additional 18,274 shares during the last quarter. Creative Planning increased its stake in Pfizer by 17.1% during the third quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock worth $52,692,000 after acquiring an additional 266,167 shares during the last quarter. ORG Partners LLC increased its stake in Pfizer by 1,729.9% during the second quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after acquiring an additional 44,458 shares during the last quarter. Kempner Capital Management Inc. purchased a new stake in Pfizer in the first quarter valued at $2,439,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in shares of Pfizer by 10.3% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 256,460 shares of the biopharmaceutical company’s stock valued at $7,422,000 after purchasing an additional 23,928 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.