Pfizer (NYSE:PFE) Upgraded by StockNews.com to Strong-Buy Rating

StockNews.com upgraded shares of Pfizer (NYSE:PFE) from a buy rating to a strong-buy rating in a research report report published on Tuesday.

Several other brokerages also recently weighed in on PFE. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Company increased their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Barclays boosted their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Sanford C. Bernstein began coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. Finally, UBS Group raised their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Pfizer has an average rating of “Moderate Buy” and a consensus target price of $33.58.

Pfizer Stock Down 2.6 %

PFE stock opened at $26.02 on Tuesday. The firm has a market capitalization of $147.46 billion, a price-to-earnings ratio of 35.16, a PEG ratio of 0.85 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. Pfizer has a fifty-two week low of $25.20 and a fifty-two week high of $31.54. The company’s 50 day moving average price is $28.76 and its 200 day moving average price is $28.67.

Pfizer (NYSE:PFE) last announced its quarterly 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. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, equities research analysts anticipate that Pfizer will post 2.96 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 6.46%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is presently 227.03%.

Insider Activity

In other news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were bought at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Addison Advisors LLC boosted its holdings in Pfizer by 394.2% in the 3rd quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock worth $1,512,000 after buying an additional 41,668 shares during the period. KBC Group NV grew its holdings in Pfizer by 26.0% in the third quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company’s stock worth $89,872,000 after purchasing an additional 639,985 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Pfizer by 4.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,118,764 shares of the biopharmaceutical company’s stock valued at $379,657,000 after buying an additional 544,418 shares during the last quarter. LGT Group Foundation boosted 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 valued at $20,786,000 after acquiring an additional 18,274 shares during the last quarter. Finally, Radnor Capital Management LLC purchased a new position in shares of Pfizer in the 3rd quarter worth $2,972,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.