Pfizer’s (PFE) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Pfizer (NYSE:PFE) in a report issued on Wednesday morning, Benzinga reports. They currently have a $45.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald also issued estimates for Pfizer’s FY2024 earnings at $2.45 EPS.

Other research analysts have also issued reports about the stock. BMO Capital Markets reiterated an outperform rating and issued a $36.00 target price (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Barclays upped their price target on shares of Pfizer from $28.00 to $30.00 and gave the company an equal weight rating in a research report on Wednesday, July 10th. Finally, Morgan Stanley upped their price target on shares of Pfizer from $28.00 to $29.00 and gave the company an equal weight rating in a research report on Thursday, May 2nd. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $34.58.

Pfizer Stock Down 0.7 %

Shares of NYSE:PFE opened at $30.43 on Wednesday. Pfizer has a 52-week low of $25.20 and a 52-week high of $37.19. The firm has a fifty day moving average of $28.73 and a 200 day moving average of $27.84. The firm has a market capitalization of $172.43 billion, a PE ratio of -507.08, a price-to-earnings-growth ratio of 1.07 and a beta of 0.69. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.31%. The company had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, research analysts anticipate that Pfizer will post 2.68 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.52%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

Hedge Funds Weigh In On Pfizer

Hedge funds and other institutional investors have recently modified their holdings of the company. Argus Investors Counsel Inc. raised its stake in Pfizer by 17.2% in the fourth quarter. Argus Investors Counsel Inc. now owns 43,315 shares of the biopharmaceutical company’s stock worth $1,247,000 after buying an additional 6,350 shares in the last quarter. Addenda Capital Inc. grew its holdings in Pfizer by 29.7% in the fourth quarter. Addenda Capital Inc. now owns 198,325 shares of the biopharmaceutical company’s stock worth $5,710,000 after purchasing an additional 45,380 shares during the period. Integrated Investment Consultants LLC grew its holdings in Pfizer by 21.8% in the fourth quarter. Integrated Investment Consultants LLC now owns 26,730 shares of the biopharmaceutical company’s stock worth $770,000 after purchasing an additional 4,779 shares during the period. DORCHESTER WEALTH MANAGEMENT Co grew its holdings in Pfizer by 3.1% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 241,092 shares of the biopharmaceutical company’s stock worth $6,941,000 after purchasing an additional 7,305 shares during the period. Finally, Heartland Bank & Trust Co grew its holdings in Pfizer by 64.0% in the fourth quarter. Heartland Bank & Trust Co now owns 13,860 shares of the biopharmaceutical company’s stock worth $399,000 after purchasing an additional 5,409 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.