Pfizer, Inc. (PFE) Given Buy Rating at BMO Capital Markets
BMO Capital Markets restated their buy rating on shares of Pfizer, Inc. (NYSE:PFE) in a report released on Thursday morning. The brokerage currently has a $39.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $37.00.
Several other equities analysts have also recently weighed in on the company. Credit Suisse Group cut Pfizer from an outperform rating to a neutral rating and cut their price objective for the company from $38.00 to $36.00 in a report on Thursday, July 20th. Zacks Investment Research raised Pfizer from a sell rating to a hold rating in a research report on Friday, July 14th. Vetr lowered Pfizer from a buy rating to a hold rating and set a $35.71 price target on the stock. in a research report on Wednesday, September 13th. Morgan Stanley raised Pfizer from an equal weight rating to an overweight rating and boosted their price target for the stock from $35.00 to $39.00 in a research report on Wednesday, September 20th. Finally, ValuEngine raised Pfizer from a hold rating to a buy rating in a research report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $38.26.
Shares of Pfizer (PFE) traded up 0.30% during midday trading on Thursday, reaching $36.53. 4,602,761 shares of the company’s stock were exchanged. The company has a market capitalization of $217.26 billion, a PE ratio of 26.72 and a beta of 1.00. Pfizer has a 1-year low of $29.83 and a 1-year high of $36.78. The firm has a 50-day moving average of $35.56 and a 200-day moving average of $33.83.
Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.02. Pfizer had a return on equity of 24.51% and a net margin of 15.84%. The firm had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $13.08 billion. During the same quarter last year, the business earned $0.64 earnings per share. The company’s revenue was down 1.9% compared to the same quarter last year. Equities analysts expect that Pfizer will post $2.56 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, November 9th. This represents a $1.28 annualized dividend and a dividend yield of 3.51%. Pfizer’s dividend payout ratio is currently 94.12%.
In related news, insider Alexander R. Mackenzie sold 7,350 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $34.00, for a total transaction of $249,900.00. Following the completion of the sale, the insider now directly owns 132,124 shares in the company, valued at approximately $4,492,216. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Laurie J. Olson sold 8,064 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $32.70, for a total value of $263,692.80. Following the sale, the insider now owns 74,506 shares of the company’s stock, valued at $2,436,346.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 464,521 shares of company stock valued at $15,813,961. 0.06% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. CAPROCK Group Inc. lifted its position in shares of Pfizer by 1.7% during the 3rd quarter. CAPROCK Group Inc. now owns 100,251 shares of the biopharmaceutical company’s stock worth $3,579,000 after buying an additional 1,717 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Pfizer by 0.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 298,956 shares of the biopharmaceutical company’s stock worth $10,672,000 after purchasing an additional 1,837 shares in the last quarter. Whittier Trust Co. increased its holdings in Pfizer by 2.2% in the 3rd quarter. Whittier Trust Co. now owns 744,641 shares of the biopharmaceutical company’s stock worth $26,584,000 after purchasing an additional 15,891 shares in the last quarter. Ahrens Investment Partners LLC acquired a new position in Pfizer in the 3rd quarter worth about $204,000. Finally, Carnick & Kubik Group LLC acquired a new position in Pfizer in the 3rd quarter worth about $2,622,000. Institutional investors and hedge funds own 68.98% of the company’s stock.
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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