Pfizer (NYSE:PFE) Lifted to “Strong-Buy” at Daiwa America

Daiwa America upgraded shares of Pfizer (NYSE:PFE) from a moderate buy rating to a strong-buy rating in a research note released on Wednesday, Zacks.com reports.

Other equities research analysts have also issued reports about the stock. UBS Group lifted their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a neutral rating in a research note on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of Pfizer from a neutral rating to an outperform rating and raised their price objective for the company from $28.00 to $34.00 in a research note on Wednesday. BMO Capital Markets reiterated an outperform rating and issued a $36.00 price objective (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Wells Fargo & Company upped their target price 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. Finally, Morgan Stanley upped their target price on Pfizer from $28.00 to $29.00 and gave the company an equal weight rating in a research note on Thursday, May 2nd. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $34.54.

Pfizer Trading Down 0.7 %

PFE opened at $28.55 on Wednesday. Pfizer has a 52 week low of $25.20 and a 52 week high of $37.19. The stock’s fifty day moving average is $28.80 and its two-hundred day moving average is $27.86. The company has a market capitalization of $161.78 billion, a P/E ratio of -475.75, a PEG ratio of 1.02 and a beta of 0.69. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The firm 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%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 EPS. Analysts forecast that Pfizer will post 2.68 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 5.88%. Pfizer’s dividend payout ratio is -2,799.53%.

Institutional Trading of Pfizer

A number of hedge funds have recently added to or reduced their stakes in the stock. Olistico Wealth LLC acquired a new stake in Pfizer in the second quarter valued at $25,000. MFA Wealth Advisors LLC bought a new stake in Pfizer during the second quarter worth $29,000. Creekmur Asset Management LLC bought a new stake in Pfizer during the fourth quarter worth $32,000. Trivant Custom Portfolio Group LLC lifted its stake in Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 600 shares during the last quarter. Finally, Financial Connections Group Inc. bought a new stake in Pfizer during the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

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.