Pfizer (NYSE:PFE) Earns Market Perform Rating from Analysts at Sanford C. Bernstein

Sanford C. Bernstein assumed coverage on shares of Pfizer (NYSE:PFE) in a report published on Thursday, MarketBeat reports. The firm issued a market perform rating and a $32.00 price objective on the biopharmaceutical company’s stock.

Several other brokerages have also recently commented on PFE. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Thursday, October 3rd. Barclays lifted 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. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Company increased their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and an average target price of $33.91.

Pfizer Stock Down 0.2 %

Shares of NYSE PFE opened at $29.22 on Thursday. Pfizer has a 12-month low of $25.20 and a 12-month high of $31.54. The firm’s 50-day simple moving average is $29.07 and its 200 day simple moving average is $28.44. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The company has a market cap of $165.58 billion, a price-to-earnings ratio of -487.00, a price-to-earnings-growth ratio of 1.02 and a beta of 0.67.

Pfizer (NYSE:PFE) last released its earnings results 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 during the quarter, compared to analysts’ expectations 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 for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $0.67 EPS. On average, research analysts expect that Pfizer will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 5.75%. Pfizer’s dividend payout ratio is -2,800.00%.

Institutional Investors Weigh In On Pfizer

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FAS Wealth Partners Inc. grew its position in Pfizer by 1.3% during the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after acquiring an additional 342 shares during the last quarter. Sachetta LLC increased its stake in shares of Pfizer by 7.3% in the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock valued at $140,000 after buying an additional 342 shares during the period. Ironvine Capital Partners LLC raised its holdings in Pfizer by 2.1% in the 1st quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock valued at $470,000 after buying an additional 353 shares during the last quarter. Secure Asset Management LLC raised its holdings in Pfizer by 0.6% in the 2nd 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. Finally, Patrick M Sweeney & Associates Inc. boosted its position in Pfizer by 0.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock worth $1,180,000 after buying an additional 355 shares during the period. 68.36% of the stock is owned by 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.