Cantor Fitzgerald Reiterates Overweight Rating for Pfizer (NYSE:PFE)

Cantor Fitzgerald restated their overweight rating on shares of Pfizer (NYSE:PFE) in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a $45.00 price objective on the biopharmaceutical company’s stock.

Several other research firms have also recently weighed in on PFE. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Barclays raised their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Wells Fargo & Company lifted their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Price Performance

NYSE PFE opened at $28.45 on Wednesday. The business has a 50 day simple moving average of $29.08 and a 200 day simple moving average of $28.51. Pfizer has a 52-week low of $25.20 and a 52-week high of $31.54. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The stock has a market cap of $161.21 billion, a price-to-earnings ratio of -474.17, a PEG ratio of 1.01 and a beta of 0.67.

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

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is currently -2,800.00%.

Hedge Funds Weigh In On Pfizer

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Financial Advocates Investment Management lifted its stake in Pfizer by 5.5% in the third quarter. Financial Advocates Investment Management now owns 44,909 shares of the biopharmaceutical company’s stock valued at $1,300,000 after buying an additional 2,361 shares during the period. Hudson Valley Investment Advisors Inc. ADV lifted its stake in Pfizer by 32.4% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 177,214 shares of the biopharmaceutical company’s stock valued at $5,129,000 after buying an additional 43,358 shares during the period. SteelPeak Wealth LLC lifted its stake in Pfizer by 237.0% in the third quarter. SteelPeak Wealth LLC now owns 173,317 shares of the biopharmaceutical company’s stock valued at $5,016,000 after buying an additional 121,889 shares during the period. Pinnacle Associates Ltd. lifted its stake in Pfizer by 5.0% in the third quarter. Pinnacle Associates Ltd. now owns 784,565 shares of the biopharmaceutical company’s stock valued at $22,588,000 after buying an additional 37,208 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its stake in Pfizer by 15.4% in the third quarter. First Trust Direct Indexing L.P. now owns 82,585 shares of the biopharmaceutical company’s stock valued at $2,390,000 after buying an additional 11,026 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Company Profile

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.