Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Pfizer from a hold rating to a buy rating and set a $40.00 target price for the company in a report on Tuesday, October 3rd. BMO Capital Markets set a $39.00 target price on shares of Pfizer and gave the stock a buy rating in a report on Tuesday. Deutsche Bank set a $38.00 target price on shares of Pfizer and gave the stock a buy rating in a report on Wednesday, December 6th. Jefferies Group set a $38.00 target price on shares of Pfizer and gave the stock a neutral rating in a report on Monday, October 16th. Finally, JPMorgan Chase & Co. set a $39.00 price target on shares of Pfizer and gave the stock a buy rating in a research note on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. Pfizer has an average rating of Hold and a consensus price target of $39.25.
Shares of Pfizer (NYSE PFE) opened at $36.83 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.43. The firm has a market cap of $220,784.59 and a PE ratio of 13.98. Pfizer has a 1-year low of $31.32 and a 1-year high of $39.43.
Pfizer declared that its board has initiated a share buyback program on Monday, December 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be paid a $0.34 dividend. This is an increase from Pfizer’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend is Thursday, February 1st. Pfizer’s dividend payout ratio is presently 36.47%.
In other Pfizer news, insider Alexander R. Mackenzie sold 6,750 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $37.00, for a total transaction of $249,750.00. Following the completion of the transaction, the insider now owns 103,458 shares of the company’s stock, valued at $3,827,946. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rady A. Johnson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $37.07, for a total transaction of $296,560.00. Following the transaction, the executive vice president now directly owns 46,963 shares of the company’s stock, valued at approximately $1,740,918.41. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Welch Group LLC increased its stake in shares of Pfizer by 557.4% during the fourth quarter. Welch Group LLC now owns 49,775 shares of the biopharmaceutical company’s stock valued at $1,803,000 after purchasing an additional 42,203 shares in the last quarter. Family Legacy Inc. increased its position in shares of Pfizer by 72.5% during the fourth quarter. Family Legacy Inc. now owns 24,148 shares of the biopharmaceutical company’s stock valued at $875,000 after acquiring an additional 10,148 shares in the last quarter. Kovack Advisors Inc. bought a new stake in shares of Pfizer during the fourth quarter valued at approximately $2,077,000. Allied Investment Advisors LLC bought a new stake in shares of Pfizer during the fourth quarter valued at approximately $218,000. Finally, Boston Partners increased its position in shares of Pfizer by 3.8% during the fourth quarter. Boston Partners now owns 28,792,242 shares of the biopharmaceutical company’s stock valued at $1,042,854,000 after acquiring an additional 1,050,922 shares in the last quarter. 69.87% of the stock is owned by institutional investors and hedge funds.
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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