Analysts Set Pfizer Inc. (NYSE:PFE) Price Target at $33.58

Pfizer Inc. (NYSE:PFE) has received a consensus rating of “Moderate Buy” from the sixteen analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $32.92.

Several brokerages have weighed in on PFE. Citigroup initiated coverage on Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective for the company. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Wolfe Research started coverage on shares of Pfizer in a research report on Friday. They set an “underperform” rating and a $25.00 target price for the company. StockNews.com raised shares of Pfizer from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 10,000 shares in the company, valued at $282,400. This represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its position in Pfizer by 11.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock valued at $3,766,366,000 after acquiring an additional 12,864,343 shares during the last quarter. Marshall Wace LLP raised its stake in Pfizer by 279.3% during the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock worth $150,481,000 after acquiring an additional 8,378,173 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Pfizer by 22.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after purchasing an additional 6,977,587 shares during the period. Swedbank AB bought a new stake in shares of Pfizer during the 1st quarter valued at $172,902,000. Finally, International Assets Investment Management LLC bought a new position in Pfizer in the 3rd quarter worth $146,481,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

PFE stock opened at $24.80 on Thursday. The business has a 50 day moving average of $28.64 and a 200-day moving average of $28.64. The firm has a market cap of $140.54 billion, a PE ratio of 33.51, a P/E/G ratio of 0.85 and a beta of 0.67. Pfizer has a 12-month low of $24.48 and a 12-month 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.

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

Pfizer Dividend Announcement

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 issued a $0.42 dividend. This represents a $1.68 annualized dividend 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%.

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.