Pfizer (NYSE:PFE) Price Target Lowered to $29.00 at Citigroup

Pfizer (NYSE:PFE) had its price target cut by Citigroup from $30.00 to $29.00 in a research report report published on Tuesday,Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

Several other research analysts have also recently weighed in on PFE. Bank of America restated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. UBS Group cut their price target on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Guggenheim cut their price target on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Finally, Sanford C. Bernstein initiated coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Trading Down 0.3 %

NYSE:PFE opened at $26.79 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm has a 50-day moving average of $26.15 and a 200-day moving average of $27.92. The company has a market cap of $151.79 billion, a PE ratio of 36.20, a PEG ratio of 0.64 and a beta of 0.64. Pfizer has a one year low of $24.48 and a one year high of $31.54.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the previous year, the firm posted ($0.17) earnings per share. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. As a group, equities research analysts expect that Pfizer will post 2.94 EPS for the current fiscal year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is 227.03%.

Institutional Trading of Pfizer

A number of hedge funds and other institutional investors have recently bought and sold shares of PFE. Retirement Wealth Solutions LLC bought a new position in shares of Pfizer in the 4th quarter worth $26,000. Gladius Capital Management LP increased its holdings in shares of Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 38,015 shares during the last quarter. Quarry LP bought a new position in shares of Pfizer in the 2nd quarter worth $31,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Pfizer in the 3rd quarter worth $35,000. Finally, Joseph Group Capital Management increased its holdings in shares of Pfizer by 168.3% in the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 771 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

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.