BidaskClub upgraded shares of Pfizer, Inc. (NYSE:PFE) from a strong sell rating to a sell rating in a research report sent to investors on Saturday, August 5th.
Other research analysts also recently issued research reports about the stock. Sanford C. Bernstein restated a buy rating and set a $35.00 price target on shares of Pfizer in a research report on Monday, April 24th. Barclays PLC reiterated a buy rating and issued a $38.00 price objective on shares of Pfizer in a report on Wednesday, May 3rd. Cowen and Company set a $43.00 price objective on shares of Pfizer and gave the company a buy rating in a report on Monday, July 10th. UBS AG reiterated a buy rating and issued a $38.00 price objective on shares of Pfizer in a report on Monday, July 31st. Finally, Jefferies Group LLC reiterated a hold rating and issued a $35.00 price objective (up previously from $34.00) on shares of Pfizer in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company. Pfizer presently has an average rating of Hold and a consensus price target of $37.61.
Shares of Pfizer (PFE) traded down 0.85% during mid-day trading on Friday, hitting $32.67. The company’s stock had a trading volume of 15,490,145 shares. The stock’s 50 day moving average price is $33.30 and its 200 day moving average price is $33.38. Pfizer has a 52-week low of $29.83 and a 52-week high of $35.38. The company has a market cap of $194.30 billion, a price-to-earnings ratio of 23.90 and a beta of 1.00.
Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.02. Pfizer had a net margin of 15.84% and a return on equity of 24.51%. The firm had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $13.08 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. Equities analysts forecast that Pfizer will post $2.56 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be paid a $0.32 dividend. The ex-dividend date is Wednesday, August 2nd. This represents a $1.28 dividend on an annualized basis and a yield of 3.92%. Pfizer’s dividend payout ratio is presently 94.12%.
In related news, CEO Ian C. Read sold 96,950 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $34.00, for a total transaction of $3,296,300.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alexander R. Mackenzie sold 15,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $33.50, for a total transaction of $502,500.00. Following the sale, the insider now directly owns 151,474 shares in the company, valued at approximately $5,074,379. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Levin Capital Strategies L.P. increased its stake in Pfizer by 6.1% in the fourth quarter. Levin Capital Strategies L.P. now owns 8,312,581 shares of the biopharmaceutical company’s stock worth $269,993,000 after buying an additional 474,404 shares in the last quarter. Fiera Capital Corp increased its stake in shares of Pfizer by 3.4% in the fourth quarter. Fiera Capital Corp now owns 104,800 shares of the biopharmaceutical company’s stock valued at $3,404,000 after buying an additional 3,432 shares during the period. Silvercrest Asset Management Group LLC increased its stake in shares of Pfizer by 5.2% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 2,791,070 shares of the biopharmaceutical company’s stock valued at $90,654,000 after buying an additional 138,383 shares during the period. Fred Alger Management Inc. increased its stake in shares of Pfizer by 2.0% in the fourth quarter. Fred Alger Management Inc. now owns 113,137 shares of the biopharmaceutical company’s stock valued at $3,675,000 after buying an additional 2,270 shares during the period. Finally, Arbor Wealth Management LLC increased its stake in shares of Pfizer by 6.3% in the fourth quarter. Arbor Wealth Management LLC now owns 46,741 shares of the biopharmaceutical company’s stock valued at $1,526,000 after buying an additional 2,768 shares during the period. 69.94% of the stock is currently owned by hedge funds and other institutional investors.
Pfizer Company Profile
Pfizer Inc (Pfizer) is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines, as well as consumer healthcare products. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH).
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