Pfizer (NYSE:PFE) Receives New Coverage from Analysts at Citigroup

Citigroup assumed coverage on shares of Pfizer (NYSE:PFE) in a research note published on Friday, StockNewsAPI reports. The brokerage issued a neutral rating and a $30.00 price target on the biopharmaceutical company’s stock.

A number of other brokerages also recently issued reports on PFE. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Sanford C. Bernstein started coverage on Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Wednesday. Barclays lifted their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Trading Down 0.7 %

PFE stock traded down $0.19 during trading on Friday, reaching $28.45. 26,091,111 shares of the stock were exchanged, compared to its average volume of 36,849,277. Pfizer has a 1 year low of $25.20 and a 1 year high of $31.54. The firm has a market capitalization of $161.22 billion, a price-to-earnings ratio of -61.85, a P/E/G ratio of 1.01 and a beta of 0.67. The business has a 50 day moving average price of $29.08 and a 200-day moving average price of $28.50. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 earnings per share. On average, research analysts predict that Pfizer will post 2.67 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is currently -365.21%.

Hedge Funds Weigh In On Pfizer

Large investors have recently made changes to their positions in the stock. LGT Group Foundation increased its stake in shares of Pfizer by 2.5% during the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock worth $20,786,000 after purchasing an additional 18,274 shares in the last quarter. Creative Planning raised its holdings in Pfizer by 17.1% in the 3rd quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock valued at $52,692,000 after acquiring an additional 266,167 shares during the last quarter. ORG Partners LLC lifted its stake in shares of Pfizer by 1,729.9% during the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after purchasing an additional 44,458 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of Pfizer by 10.3% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 256,460 shares of the biopharmaceutical company’s stock worth $7,422,000 after purchasing an additional 23,928 shares during the last quarter. Finally, Everett Harris & Co. CA grew its position in shares of Pfizer by 21.7% in the third quarter. Everett Harris & Co. CA now owns 218,344 shares of the biopharmaceutical company’s stock valued at $6,319,000 after purchasing an additional 38,870 shares during the period. Hedge funds and other institutional investors 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.