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 sent to investors on Tuesday morning.

PFE has been the topic of several other reports. 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 report on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. UBS Group increased their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Barclays lifted their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Citigroup began coverage on Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Price Performance

PFE opened at $26.18 on Tuesday. The firm has a market cap of $148.36 billion, a P/E ratio of 35.38, a PEG ratio of 0.83 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 firm has a 50-day moving average of $28.84 and a 200 day moving average of $28.67.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $14.92 billion. During the same quarter in the previous year, the firm posted ($0.17) EPS. Pfizer’s revenue was up 31.2% on a year-over-year basis. On average, research analysts expect that Pfizer will post 2.96 EPS for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 yield of 6.42%. Pfizer’s payout ratio is currently 227.03%.

Insider Buying and Selling at Pfizer

In other news, Director Scott Gottlieb purchased 1,000 shares of the company’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 directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pfizer

Several institutional investors and hedge funds have recently modified their holdings of the stock. FAS Wealth Partners Inc. lifted its position in shares of Pfizer by 1.3% in the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after purchasing an additional 342 shares during the period. Sachetta LLC lifted its position in Pfizer by 7.3% during the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock valued at $140,000 after acquiring an additional 342 shares during the period. Wells Trecaso Financial Group LLC lifted its position in Pfizer by 2.5% during the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after acquiring an additional 350 shares during the period. Ironvine Capital Partners LLC grew its stake in shares of Pfizer by 2.1% in the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock worth $470,000 after acquiring an additional 353 shares during the period. Finally, Secure Asset Management LLC increased its holdings in Pfizer by 0.6% during the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock valued at $1,632,000 after buying an additional 353 shares during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

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.